Beatrice Production Credit Ass'n v. Vieselmeyer

MEMORANDUM AND ORDER ON MOTION FOR SUMMARY JUDGMENT

URBOM, Chief Judge.

This matter is before the court on the plaintiff’s motion for summary judgment, filing No. 23. The motion is directed at the defense of usury, as alleged in paragraph numbered 4 of the defendant’s answer. The defense asserts that the rate of interest charged on the loan was 9% per cent, in violation of the 9 per cent limitation imposed by § 45-102, R.R.S.Neb. (1943). The basis of the summary judgment motion is that the Production Credit Association, as a federal lending institution, is not subject to the usury laws of…