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MATTER OF ESTATE OF THIES

No. 89-1559.

463 N.W.2d 40 (1990)

In the Matter of the ESTATE OF Taldine THIES, Deceased. FEDERAL DEPOSIT INSURANCE CORPORATION, Appellee, v. Esther L. HAUPT, Executor of the Estate of Taldine Thies, Appellant.

Supreme Court of Iowa.

November 21, 1990.

Attorney(s) appearing for the Case

Jack A. Hall of Wilson, Hall & Craig, Eldora, for appellant.

Paul A. Zoss, Michael R. Nelson, and G. Mark Rice of Adams, Howe & Zoss, P.C., Des Moines, for appellee.

Considered by McGIVERIN, C.J., and SCHULTZ, LAVORATO, SNELL, and ANDREASEN, JJ.

LAVORATO, Justice.

Any agreement that would otherwise defeat the rights of the Federal Deposit Insurance Corporation (FDIC) in any asset it obtains from a failed bank is invalid unless certain requirements are met. See 12 U.S.C. § 1823(e) (1982). The district court sustained the FDIC's motion for summary judgment in an action on a guaranty of several notes the FDIC acquired from a failed bank. When the guaranty was signed, the bank orally agreed with the...

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