Legal Opinion
Farmers & Merchants National Bank v. Sooner Cooperative, Inc.
Supreme Court of Oklahoma
Decided November 22, 1988No. 64329PublishedCited by 14 opinions
1Opinion of the Court
HODGES, Justice.
Two issues are presented on appeal: (1) Does a valid security interest continue in Payment-In-Kind Diversion Program benefits as proceeds of growing crop collateral? (2) Do Payment-In-Kind Diversion Program payments remain identifiable when deposited into debtors’ bank account from which a check was issued to retire a loan from another creditor? We answer both questions in the affirmative.
The facts are uncontroverted. On August 25, 1982, J.C. Graham and Elizabeth Sue Graham (debtors) granted a security interest to Farmers and Merchants National Bank (F & M) in 1983 wheat crops…
2Cases cited37 opinions
- In Re Dwayne Sunberg, Patricia Sunberg, Engaged in Farming, DebtorsCourt of Appeals for the Eighth Circuit · 1984
- In the Matter of William Guy Munger, Bankrupt. Ernest J. Pombo v. Jack A. Ulrich, TrusteeCourt of Appeals for the Ninth Circuit · 1974
- In the Matter of Leland G. Schmaling and Mary F. Schmaling, Debtors. Appeal of Esther J. Schmaling, Leland G. Schmaling and Mary F. SchmalingCourt of Appeals for the Seventh Circuit · 1986
- First State Bank of Abernathy v. Holder (In Re Nivens)United States Bankruptcy Court, N.D. Texas · 1982
- In Re KruseUnited States Bankruptcy Court, D. Kansas · 1983
32 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Harley-Davidson Motor Co., Inc., and Itt Commercial Finance Corp. v. Bank of New England--Old Colony, N.A.Court of Appeals for the First Circuit · 1990
- Conagra, Inc v. Farmers State BankMichigan Court of Appeals · 1999
- Goss v. Trinity Savings & Loan Ass'nSupreme Court of Oklahoma · 1991
- J.I. Case Credit Corporation, a Wisconsin Corporation v. First National Bank of Madison CountyCourt of Appeals for the First Circuit · 1993
- Miami Business Services, LLC v. DavisSupreme Court of Oklahoma · 2013
9 more not listed; retrieve them via the Exa API.