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CENTRAL LOUISIANA BANK & TRUST CO. v. STATE

No. 96-379.

688 So.2d 1155 (1996)

CENTRAL LOUISIANA BANK & TRUST CO., Plaintiff-Appellee, v. STATE of Louisiana, Acting through The Governor's Special Commission on Education Services, et al., Defendants-Appellants.

Court of Appeal of Louisiana, Third Circuit.

Writ Denied January 6, 1997.

Attorney(s) appearing for the Case

Renee Yvette Roy, Mansura, for Central Louisiana Bank & Trust Company.

Chole V. Rackley, Baton Rouge, for State of Louisiana, Acting Through the Governor's Special Commission on Education Services, et al.

Gilda R. Jordan Small, pro se.

Before THIBODEAUX, COOKS and AMY, JJ.

COOKS, Judge.

The guarantor appeals the judgment of the district court requiring it to reimburse the lender for a defaulted student loan. For the following reasons, we reverse.

FACTS

Central Louisiana Bank & Trust Company, now known as Cottonport Bank (hereinafter referred to as Cottonport Bank), from 1965 through October of 1987, was a participating lender in the federally guaranteed student loan program (GSL). On February 5, 1987, Cottonport...

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