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PRODUCTION CREDIT ASS'N v. MARTIN CTY. NAT. BANK

No. C2-85-1671.

384 N.W.2d 529 (1986)

PRODUCTION CREDIT ASSOCIATION OF FAIRMONT, Appellant, v. MARTIN COUNTY NATIONAL BANK OF FAIRMONT, Minnesota, Respondent.

Court of Appeals of Minnesota.

Review Denied May 29, 1986.

Attorney(s) appearing for the Case

Gary W. Koch, Gislason, Dosland, Hunter & Malecki, New Ulm, for appellant.

Fred C. Krahmer, Krahmer Law Firm, P.A., Fairmont, for respondent.

Heard, considered and decided by HUSPENI, P.J., and FOLEY and NIERENGARTEN, JJ.

OPINION

HUSPENI, Judge.

This case arises out of a dispute between two creditors regarding the status of payments made to the debtor Darrell Peterson pursuant to the United States Department of Agriculture's Payment-in-Kind (PIK) program. The trial court granted summary judgment in favor of respondent Martin County National Bank (Bank) on the grounds that the Production Credit Association of Fairmont (PCA) did not have a security interest in the PIK payments...

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