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NORTH PLATTE STATE BANK v. PRODUCTION CREDIT ASS'N

No. 38292.

200 N.W.2d 1 (1972)

189 Neb. 44

NORTH PLATTE STATE BANK, a Banking Corporation, Appellant, v. PRODUCTION CREDIT ASSOCIATION OF NORTH PLATTE, Nebraska, a Corporation, Appellee, Permanent Editorial Board for the Uniform Commercial Code, Amicus Curiae.

Supreme Court of Nebraska.

August 4, 1972.

Attorney(s) appearing for the Case

Murphy, Pederson & Piccolo, North Platte, for appellant.

Kelley & Wallace, North Platte, for appellee.

Carl W. Funk, Philadelphia, Pa., for amicus curiae.

Heard before WHITE, C. J., and BOSLAUGH, McCOWN, and CLINTON, JJ., and COLWELL, District Judge.

WHITE, Chief Justice.

This case deals with the priority of secured creditors, each having a perfected security interest in the same collateral. For convenience, the plaintiff-appellant, North Platte State Bank, is hereinafter referred to as Bank, and the defendant-appellee, Production Credit Association of North Platte, is hereinafter referred to as PCA.

In August 1967, Gerald S. Tucker received an "operating loan...

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