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State Courts -
Iowa - September 21, 2006
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Alcoa Emples. & Cmty. Credit Union v. Tooley, No. 6-699 / 06-0095,
COURT OF APPEALS OF IOWA, September 21, 2006, Filed
View this case - free
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Overview: Statute of limitations on a written promissory note began to run as of the date of default, not date the proceeds from the sale of the collateral were credited to the account. Thus, district court's summary judgment in favor of debtors and against credit union, based on the 10-year statute of limitations, Iowa Code § 614.1(5) (2003), was affirmed.
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