Citizens State Bank v. Davison

BRIGHT, Circuit Judge.

Marvin and Betty Davison, husband and wife and petitioners for relief under chapter 11 of the Bankruptcy Reform Act, sought a determination in the bankruptcy court that Citizens State Bank of Nevada, Missouri (Bank) was an unsecured creditor. After an evidentiary hearing, the bankruptcy court determined that the Bank had failed to perfect its security interest because Betty Davison did not sign the financing statement covering the collateral. The district court affirmed. For the reasons set forth in this opinion, we reverse and remand for further proceedings.

I.…