Belke v. M & I First National Bank of Stevens Point

Chuck Belke claims perfected security interests in two certificates M & I First National Bank issued to Irene Tepp. He appeals from a judgment dismissing his action against the bank to realize on his security interests. The certificates provide that they may not be transferred or assigned without the bank's consent. The trial court held that because the bank did not consent to Tepp's granting security interests in the certificates, no security interest attached. It concluded the bank properly exercised its right of setoff", granted the bank's motion for summary judgment and dismissed Belke's…