Court of Appeals for the Tenth Circuit July 11, 1989, Nos. 87-1486, 87-1490 (Holloway v. Peat, Marwick, Mitchell & Co.)

TACHA, Circuit Judge.

The issue presented in this interlocutory appeal is whether certain instruments issued by three Oklahoma entities — Republic Bancorporation, Inc. (RBI), and its two non-bank subsidiaries, Republic Trust & Savings (RTS), a trust company, and Republic Financial Corporation (RFC), a finance company — are securities within the meaning of the federal securities laws.