First Bank & Trust of Jonesboro v. State

Court of Appeals of Georgia

First Bank & Trust of Jonesboro v. State

258 S.E.2d 59, 150 Ga. App. 436, 1979 Ga. App. LEXIS 2341

CourtCourt of Appeals of Georgia

DecidedJune 22, 1979

Docket57821

StatusPublished

Cited by2 cases

This text of 258 S.E.2d 59 (First Bank & Trust of Jonesboro v. State) is published on Counsel Stack Legal Research, covering Court of Appeals of Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

First Bank & Trust of Jonesboro v. State, 258 S.E.2d 59, 150 Ga. App. 436, 1979 Ga. App. LEXIS 2341 (Ga. Ct. App. 1979).

Pincite

Opinion

Banke, Judge.

This is an action by the state to condemn an aircraft which was seized while being used to transport marijuana. See generally Code Ann. § 79A-828. The appellant, First Bank and Trust of Jonesboro, Arkansas, claimed a security interest in the aircraft based on a security agreement executed by the purported owner, Edd Conn Aircraft Sales, Inc., in connection with a loan made to the corporation by the bank. See generally Code Ann. § 79A-828 (a) (4) (iii). Following a hearing, the trial court determined that the bank had no bona fide security interest in the plane at the time of its seizure and that it "knew or had constructive knowledge of the intended use or the actual use of the aircraft.” Accordingly, the court rejected the bank’s claim, giving rise to this appeal. Held:

1. The burden of proof was on the bank to prove its claim to the aircraft. See Code Ann. § 79A-829 (a). It appears from the transcript that Edd Conn Aircraft Sales, Inc., was not in existence on the date that the security agreement was executed due to the prior revocation of its charter by the Governor of Arkansas, and there is nothing in the record to indicate who acquired title to the corporation’s property when its existence was terminated. Thus, the purported security agreement could not have transferred any interest in the aircraft to the bank, and the judgment of the trial court must be affirmed.

2. In view of the foregoing, it is unnecessary to consider the appellant’s remaining enumerations of error.

Judgment affirmed.

McMurray, P. J., and Underwood, J., concur. Dwight H. May, Assistant District Attorney, for appellee.

Free access — add to your briefcase to read the full text and ask questions with AI

Banke, Judge.

This is an action by the state to condemn an aircraft which was seized while being used to transport marijuana. See generally Code Ann. § 79A-828. The appellant, First Bank and Trust of Jonesboro, Arkansas, claimed a security interest in the aircraft based on a security agreement executed by the purported owner, Edd Conn Aircraft Sales, Inc., in connection with a loan made to the corporation by the bank. See generally Code Ann. § 79A-828 (a) (4) (iii). Following a hearing, the trial court determined that the bank had no bona fide security interest in the plane at the time of its seizure and that it "knew or had constructive knowledge of the intended use or the actual use of the aircraft.” Accordingly, the court rejected the bank’s claim, giving rise to this appeal. Held:

1. The burden of proof was on the bank to prove its claim to the aircraft. See Code Ann. § 79A-829 (a). It appears from the transcript that Edd Conn Aircraft Sales, Inc., was not in existence on the date that the security agreement was executed due to the prior revocation of its charter by the Governor of Arkansas, and there is nothing in the record to indicate who acquired title to the corporation’s property when its existence was terminated. Thus, the purported security agreement could not have transferred any interest in the aircraft to the bank, and the judgment of the trial court must be affirmed.

2. In view of the foregoing, it is unnecessary to consider the appellant’s remaining enumerations of error.

Judgment affirmed.

McMurray, P. J., and Underwood, J., concur. Dwight H. May, Assistant District Attorney, for appellee.

Cite This Page — Counsel Stack

Bluebook (online)

258 S.E.2d 59, 150 Ga. App. 436, 1979 Ga. App. LEXIS 2341, Counsel Stack Legal Research, https://law.counselstack.com/opinion/first-bank-trust-of-jonesboro-v-state-gactapp-1979.

Opinion

Related

Cite This Page — Counsel Stack