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NORDBROCK v. STATE

No. 85-1720.

395 N.W.2d 872 (1986)

Gerald L. NORDBROCK, Harley W. Batie, Gene L. Osborn, Irving R. Dana, William L. Larson and Mt. Pleasant Company, Appellants, v. STATE of Iowa, Iowa State Banking Board, Superintendent of Banking of the State of Iowa, and the Iowa Department of Banking, Appellees.

Supreme Court of Iowa.

November 12, 1986.

Attorney(s) appearing for the Case

Lawrence L. Marcucci and John C. Conger of Williams, La Marca, Marcucci, Wiggins & Anderson, West Des Moines, for appellants.

Thomas J. Miller, Atty. Gen., Brent R. Appel, Deputy Atty. Gen., and William F. Raisch and James M. Redmond, Asst. Attys. Gen., for appellees.

Considered by REYNOLDSON, C.J., and HARRIS, LARSON, SCHULTZ and CARTER, JJ.

SCHULTZ, Justice.

In this appeal we must decide whether shareholders of a bank have a valid tort action against the State and its agencies for alleged negligence in bank examinations and supervision, which led to the bank's insolvency. Plaintiffs' action under Iowa Code chapter 25A (1983), the Iowa Tort Claims Act, was dismissed by the trial court on the grounds that the conduct of which plaintiffs complained fell within...

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