Legal Opinion
Grand Prairie Savings & Loan Ass'n v. Worthen Bank & Trust Co., N.A.
Supreme Court of Arkansas
Decided May 1, 1989No. 88-118PublishedCited by 6 opinions
1Opinion of the Court
Joe D. Woodward, Special Justice.
This matter comes before this court on appeal of a partial summary judgment entered by the trial court. The lower court held that loan participations are not securities under the Arkansas Securities Act, Ark. Code Ann. § 23-42-102 (1987).
Sun Belt Federal Bank, FSB, of Lake Providence, Louisiana, agreed to make a loan to BFC 8, Ltd., a limited partnership, for the purpose of building a six story, multi-tenant office building in Baton Rouge, Louisiana. The limited partnership executed and delivered its promissory note in the amount of eight million three hundred…
Also in this document: Concurrence.
2Cases cited5 opinions
- Schultz v. Rector-Phillips-Morse, Inc.Supreme Court of Arkansas · 1977
- Union National Bank of Little Rock v. Farmers Bank, Hamburg, ArkansasCourt of Appeals for the Eighth Circuit · 1986
- Smith v. StateCourt of Appeals of Arkansas · 1979
- Moeller v. Theis Realty, Inc.Court of Appeals of Arkansas · 1985
- Ray v. Shelby Mutual InsuranceCourt of Appeals of Arkansas · 1985
3Cited by6 opinions
- Cook v. WillsSupreme Court of Arkansas · 1991
- Waters v. MillsapSupreme Court of Arkansas · 2015
- Carder v. BurrowSupreme Court of Arkansas · 1997
- Grand Prairie Savings & Loan Ass'n v. Worthen Bank & Trust Co., N.A.Supreme Court of Arkansas · 1989
- Waters v. MillsapSupreme Court of Arkansas · 2015
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