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HORIZON MUT. SAV. BANK v. FEDERAL SAV. & LOAN INS.

No. 81-3029.

674 F.2d 1312 (1982)

HORIZON MUTUAL SAVINGS BANK, formerly Bellingham First Federal Savings and Loan Association, Plaintiff-Appellant, v. FEDERAL SAVINGS & LOAN INSURANCE CORPORATION, an agency of the United States government, Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Decided April 21, 1982.

Attorney(s) appearing for the Case

John S. Ludwigson, McCush, Kinsbury, O'Conner, Ludwigson, Thompson & Hayes, Bellingham, Wash., for plaintiff-appellant.

Paul W. Grace, Washington, D.C., argued, for defendant-appellee; Harvey Simon, Washington, D.C., on brief.

Before SNEED, ANDERSON and REINHARDT, Circuit Judges.

REINHARDT, Circuit Judge:

Horizon Mutual Savings Bank appeals from an order granting summary judgment in favor of defendant, the Federal Savings & Loan Insurance Corporation (FSLIC). Horizon terminated its insurance with FSLIC on November 9, 1979, but FSLIC did not return Horizon's reserve account funds until January 10, 1980. Interpreting its own regulations, FSLIC concluded that Horizon was not entitled to "a return" on this money. The district court limited...

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