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PRUDENTIAL INS. CO. OF AMERICA v. RAND & REED POWERS PARTNERSHIP

No. 97-3484.

141 F.3d 834 (1998)

PRUDENTIAL INSURANCE COMPANY OF AMERICA, Plaintiff-Appellee, v. RAND & REED POWERS PARTNERSHIP, Defendant-Appellant, Iowa Bankers Association, Amicus on Behalf of Appellee.

United States Court of Appeals, Eighth Circuit.

Decided April 2, 1998.

Attorney(s) appearing for the Case

Michael R. Bovee, Spencer, IA, argued, for Defendant-Appellant.

Kasey Kincaid, Des Moines, IA, argued (Kimberly J. Walker and William J. Hunnicutt, on the brief), for Plaintiff-Appellee.

Before MORRIS SHEPPARD ARNOLD, FLOYD R. GIBSON, Circuit Judges, and NANGLE, Senior District Judge.

NANGLE, Senior District Judge.

Appellant Rand & reed Powers Partnership appeals a grant of summary judgment for the appellee, Prudential Insurance Company of America. This appeal involves the application of an uninterpreted Iowa Code section, § 535.9, which prohibits prepayment penalties and charges on a loan used in part for the purchase of agricultural land.2 Appellant seeks to have this Court find that § 535.9 also prohibits...

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