Kayser
Kayser v. Federal Sav. and Loan Ins. Corp.
Opinion
Opinion
Weigel, J.
MEMORANDUM AND ORDER
Plaintiff Eugene G. Kayser sues defendant Federal Savings and Loan Insurance Corporation (FSLIC) to enforce his claim for deposit insurance.
Plaintiff and his stepson, Peter J. Del Chiaro (Del Chiaro), held three accounts at Centennial Savings and Loan of Santa Rosa, California (Centennial). Centennial’s eligible deposits were insured by FSLIC. On April 24, 1987, the Federal Home Loan Bank Board (FHLBB) found that Centennial was insolvent and appointed FSLIC as receiver. Based on Centennial’s records, FSLIC determined that the three accounts held by plaintiff and Del Chiaro were jointly owned. For insurance purposes, FSLIC totalled the three accounts and insured $100,000, leaving $72,-641.92 uninsured.
On December 18, 1987, plaintiff and Del Chiaro requested FSLIC to reconsider, contending that plaintiff was the sole owner of accounts 63-2038 and 94-386, while Del Chiaro was the sole owner of account 90-5007. On April 18, 1988, FSLIC denied the request. Plaintiff filed this action on May 27, 1988, to recover $72,641.92, plus interest and costs.
FSLIC moves to dismiss, or in the alternative, for summary judgment. Plaintiff has filed a cross-motion for…