STOCKMAN BANK OF MONTANA v. AGSCO, INC.

No. 20070357.

747 N.W.2d 516 (2008)

2008 ND 74

STOCKMAN BANK OF MONTANA, a Montana banking corporation, Plaintiff and Appellant v. AGSCO, INC., a North Dakota corporation, Capital Harvest, Inc., d/b/a/ Capital Harvest Finance Company, a North Dakota corporation, individually and as agent for AGSCO, Inc., Defendants and Appellees and Farmers Union Oil Company of Williston, a North Dakota cooperative association, MON-KOTA, Inc., a Montana corporation, Betaseed, Inc., a Minnesota corporation, Central Insurance Agency, a North Dakota corporation, Steven D. Cayko, a/k/a Steve Cayko, Perry Elletson, a/k/a Perry E. Elletson, Ron Gross, a/k/a Ronnie Gross, Edward P. Ochs, a/k/a Eddie Ochs, Tom Ochs, Mark Brunelle, Kelly Brunelle, and Bill Sheldon, Defendants and Farmers Union Oil Company of Williston, a North Dakota cooperation association, Third-party Plaintiff v. Hardy Farm, Inc., and Jim Hardy, Third-party Defendants.

Supreme Court of North Dakota.

April 18, 2008.


Attorney(s) appearing for the Case

Garth H. Sjue (argued) and Jennifer M. Nasner (on brief), Crowley, Haughey, Hanson, Toole & Dietrich, P.L.L.P., Williston, ND, for plaintiff and appellant.

David J. Eilertson, Brown Corporations, Grand Forks, ND, for defendants and appellees.


VANDE WALLE, Chief Justice.

[¶ 1] Stockman Bank of Montana ("Bank") appealed a judgment awarding interest at a rate of 1.5 percent on money it received in repayment from AGSCO, Inc. ("AGSCO"). We reverse and remand for further proceedings in accordance with this opinion.

I.

[¶ 2] The Bank had deposited proceeds from the sale of a farmer's crop with the district court, which was to determine the priority of several agricultural suppliers...

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