First State Bank of Buxton v. Thykeson

ERICKSTAD, Chief Justice.

Dennis A. and Emma S. Thykeson, C. Bernard and Beatrice Norgaard, Norman E. and Nona D. Erickson, and Myron 0. and Donna M. Breiland have appealed from summary judgments of foreclosure entered in favor of First State Bank of Buxton and the other plaintiff banks in four companion foreclosure actions. We reverse.

Norman Erickson, Dennis Thykeson, C. Bernard Norgaard, and Myron Breiland were directors of Valley Farmers Bean As sociation, which is now insolvent. In early December 1981, the Association lacked funds to pay for bean purchases and Association checks were…