State Automobile Mutual Insurance Co. v. Chrysler Credit Corp.

HAYES, Judge,

dissenting:

I respectfully dissent. I believe the trial court correctly decided this case based upon Kentucky Revised Statutes 355.9-306(1) and (2) and the case of Ranier v. Gilford, Ky.App., 688 S.W.2d 753 (1985). As between Chrysler Credit and State Auto, the wrongdoer is clearly State Auto which paid Morton at its peril. State Auto’s claim, if any, is against Morton. To hold otherwise would mean valid, perfected security interests are not worth much. I would affirm the judgment of the trial court in all respects.