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FIRST NAT. BANK OF EASTERN ARK. v. ARK. DEV. FIN. AUTH.

No. CA 92-1249.

870 S.W.2d 400 (1994)

44 Ark.App. 143

FIRST NATIONAL BANK OF EASTERN ARKANSAS, Appellant, v. ARKANSAS DEVELOPMENT FINANCE AUTHORITY, First Commercial Mortgage Company and Verex Assurance, Inc., Appellees.

Court of Appeals of Arkansas, Division I.

February 2, 1994.

Attorney(s) appearing for the Case

Butler, Hicky & Long, Forrest City, for appellant.

Frances E. Scoggins, Little Rock, for separate appellee Verex Assurance, Inc.

Donald H. Henry and Jana Kim Keller, Little Rock, for separate appellee Arkansas Development Finance Authority and First Commercial Mort. Co.

JENNINGS, Chief Judge.

The Arkansas Development Finance Authority is an independent instrumentality of the State of Arkansas created to assist in the financing of residential housing. The appellant, First National Bank of Eastern Arkansas, qualified with the Finance Authority to participate in the Arkansas 1983 Series D Bond Program. First Commercial Mortgage Company is an Arkansas corporation which services loans for the Finance Authority. Verex Assurance, Inc. is...

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