Norwest Bank Minnesota NA v. Patton
Decision Date | 29 April 1996 |
Docket Number | Civil Action No. 96-K-978. |
Parties | NORWEST BANK MINNESOTA, N.A., as Trustee for Securitized Multiple Assets Rated Trust 1996-1, Plaintiff, v. Pepper PATTON, Defendant. |
Court | U.S. District Court — District of Colorado |
Elizabeth A. Maldonado, Meinhold and Maldonado, L.L.C., Denver, CO, for Plaintiff/Petitioner.
Pepper Patton, Limon, CO, Pro Se.
ORDER OF DISMISSAL
This is an action on two promissory notes executed by Defendant Pepper Patterson and assigned by the Citizens National Bank of Limon, Colorado to Norwest Bank Minnesota, N.A. ("Norwest"). Norwest invokes the jurisdiction of this court under 28 U.S.C. § 1332(c) based on diversity of citizenship, claiming it is a Delaware corporation with its principal place of business in Minnesota, while Defendant Patton is a citizen of Colorado. Norwest's contention is wrong as a matter of law.
Section 1348 of the same Title provides that "all national banking associations shall, for the purposes of all other actions by or against them, be deemed citizens of the states in which they are respectively located." Under § 1348, a national banking association is located in, and therefore a citizen of, every state in which it maintains a substantial presence, such as branch banks. See Connecticut Nat'l Bank v. Iacono, 785 F.Supp. 30 (D.R.I.1992) ( ). See also Bank of New York v. Bank of America, 861 F.Supp. 225, 230 (S.D.N.Y.1994). This is consistent with the modern trend of construing diversity jurisdiction narrowly to relieve congestion in the federal courts as well as the specific purpose of § 1348 to restrict national banking associations' access to federal courts. See Bank of New York at 231 & n. 9.
The promissory notes in the present case were executed in Colorado by a Colorado citizen in exchange for a loan from a Colorado bank. The notes were assigned to Norwest, a national banking association with a substantial presence and numerous branch offices in Colorado. The collateral over which the dispute arises includes calves, bulls, horses, and a tractor all located in Colorado. Colorado law governs the dispute between the parties. See Colo.Rev.Stat. § 5-1-201(1)(c) ( ); Compl., Exs. B & C (copies of notes at issue showing Colorado Uniform...
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