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VICTOR WERLHOF AVIATION INS. v. GARLICK

No. 88-528.

771 P.2d 962 (1989)

VICTOR WERLHOF AVIATION INSURANCE, Plaintiff and Respondent, v. Ronald GARLICK, d/b/a Garlick Helicopters, Defendant. v. FARMERS STATE BANK, a Montana Banking corp., Garnishee-Appellant.

Supreme Court of Montana.

Decided April 6, 1989.

Attorney(s) appearing for the Case

Jeffrey H. Langton, Hamilton, for garnishee-appellant.

Charles J. Tornabene, Patterson, Marsillo, Tornabene and Schuyler, Missoula, for plaintiff and respondent.

George T. Bennett, Montana Bankers Associates, Helena, for amicus curiae.

SHEEHY, Justice.

The principal issue in this case is whether a bank, otherwise lawfully entitled to a setoff, may exercise its right of setoff against a depositor's account at the same moment it is presented with a writ of execution which seeks to levy on the same depositor's account. We uphold the right of the Bank to the setoff.

A second issue is whether a bank may set off a matured debt against a depositor's account when the debt is secured by collateral...

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