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STATE EX REL. BERNAU v. KELLER-APEX LOAN

No. 93-731.

522 N.W.2d 111 (1994)

STATE of Iowa, ex rel. William R. BERNAU, Superintendent of Banking, Petitioner-Appellee, v. KELLER-APEX LOAN, INC., Respondent. CHAPMAN AND ASSOC. REALTORS, Claimant-Appellant, v. RECEIVER SUPERINTENDENT OF BANKING, Defendant-Appellee.

Court of Appeals of Iowa.

June 28, 1994.

Attorney(s) appearing for the Case

Donald B. Redfern of Redfern, Mason, Dieter, Larsen & Moore, Cedar Falls, for appellant.

Bonnie J. Campbell, Atty. Gen., Scott M. Galenbeck, Asst. Atty. Gen., and Dean A. Lerner, Asst. Atty. Gen., for appellee.

Considered by DONIELSON, C.J., and HAYDEN and HABHAB, JJ.

DONIELSON, Chief Judge.

Keller-Apex Loan, Inc., an industrial loan company, became insolvent and was placed under receivership of the state auditor by court order in 1985. The state superintendent of banking succeeded the auditor as receiver for the loan company. Robert Flynn, president of the loan company at the time it was placed in receivership, was also a real estate agent with the realtor, Chapman and Assoc. Realtors.

In 1987, real estate listing contracts...

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