Court of Appeals for the Fifth Circuit March 23, 1989, 87-1943 (F.D.I.C. v. W. Hugh Meyer & Associates, Inc.)

PATRICK E. HIGGINBOTHAM, Circuit Judge:

In 1982, Hugh Meyer signed an agreement pledging some stock to the First National Bank of Midland. The pledge agreement entitled the bank to a security interest in the dividends upon the stock, but neither the bank nor the FDIC, the bank’s successor in interest, registered the pledged shares in the bank’s name.