Albion National Bank v. Farmers Cooperative Ass'n

Defendant, Farmers Cooperative Association of St. Edward, Nebraska, appeals from the judgment entered in favor of plaintiff-appellee, Albion National Bank of Albion, Nebraska, asserting that the district court erred in finding that the bank had a security interest in and thus a superior right to the proceeds of certain corn delivered to the cooperative by the bank’s debtor. We affirm.

Thomas A. Shotkoski and his wife, Veronica, were the operators of a multicounty farm operation. The bank advanced funds to the Shotkoskis for the 1984 crop-year which the Shotkoskis used to pay expenses for their…