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LIBERTY STATE BANK v. MN LIFE & HEALTH INS. GUAR.

No. 95-2762MN.

149 F.3d 832 (1998)

LIBERTY STATE BANK, a Minnesota banking corporation, Appellant, v. MINNESOTA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION; Minnesota Commissioner of Commerce, Appellees.

United States Court of Appeals, Eighth Circuit.

Decided July 13, 1998.

Attorney(s) appearing for the Case

Louis W. Brenner, Sr., Minneapolis, MN, argued, for Appellant.

Jonathan S. Parritz, Minneapolis, MN, argued (Gary J. Haugen, on the brief), for Appellee.

Before RICHARD S. ARNOLD, JOHN R. GIBSON, and FAGG, Circuit Judges.

FAGG, Circuit Judge.

In this action to recover losses on municipal bonds backed by a defunct insurer, bondholder Liberty State Bank appeals the district court's grant of summary judgment to the Minnesota Life and Health Insurance Guaranty Association and the Minnesota Commissioner of Commerce. We affirm.

In 1977, the Minnesota Life and Health Insurance Guaranty Association Act created the Minnesota Life and Health Insurance Guaranty Association, a nonprofit...

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