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BANK OF NORTH ARKANSAS v. OWENS

No. 87-2167.

884 F.2d 330 (1989)

The BANK OF NORTH ARKANSAS, Appellant, v. Jimmy Carroll OWENS, Bank of Salem, The United States of America Farmers Home Administration, Appellees.

United States Court of Appeals, Eighth Circuit.

Decided August 29, 1989.

Attorney(s) appearing for the Case

John C. Gregg, Batesville, Ark., for appellant.

C. Dwayne Plumlee, Salem, Ark., for appellees.

Before JOHN R. GIBSON, Circuit Judge, FLOYD R. GIBSON, Senior Circuit Judge, and BOWMAN, Circuit Judge.

JOHN R. GIBSON, Circuit Judge.

The Bank of North Arkansas appeals from a district court1 order, 76 B.R. 672 (1987), affirming the bankruptcy court's decision that North Arkansas did not possess a perfected security interest in dairy termination payments received by debtor Jimmy Owens. Owens, who had pledged his dairy herd to secure a loan with North Arkansas, contracted with the federal government to stop...

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