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TAYLOR ENT. v. CLARINDA PROD. CREDIT ASS'N

No. 86-541.

403 N.W.2d 794 (1987)

TAYLOR ENTERPRISE, INC., Lyle K. Taylor, Georgia M. Taylor, William Taylor, and Debra Jo Taylor, Appellees, v. CLARINDA PRODUCTION CREDIT ASSOCIATION and Federal Intermediate Credit Bank of Omaha, Appellants.

Supreme Court of Iowa.

Rehearing Denied May 8, 1987.

Attorney(s) appearing for the Case

Timothy V. Haight, Jerrold L. Strasheim, and Mary L. Swick of Baird, Holm, McEachen, Pedersen, Hamann & Strasheim, Omaha, Neb., for appellants.

Robert F. Leonard and David A. Graeser of Leonard, Johnson & Graeser, P.C., Sidney, for appellees.

Considered by REYNOLDSON, C.J., and McGIVERIN, LARSON, LAVORATO and NEUMAN, JJ.

McGIVERIN, Justice.

Defendants appeal from an interlocutory order determining federal intermediate credit banks (FICBs) and production credit associations (PCAs) can be held liable for punitive damages in a suit against such entities in state court. We reverse and remand the case for further proceedings.

Plaintiffs Taylor Enterprise, Inc., Lyle and Georgia Taylor, and William and Debra Jo Taylor (Taylors) filed this action in Iowa district court seeking compensatory...

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