VALLEY NAT. BK. v. COTTON GROWERS HAIL INS.

No. 1 CA-CIV 9183.

155 Ariz. 526 (1987)

747 P.2d 1225

The VALLEY NATIONAL BANK OF ARIZONA, a national banking association, Plaintiff-Appellee, v. COTTON GROWERS HAIL INSURANCE INC., an Arizona corporation; and the Continental Insurance Company, a New York corporation, Defendants-Appellants.

Court of Appeals of Arizona, Division 1, Department A.

December 15, 1987.


Attorney(s) appearing for the Case

Snell & Wilmer by Peter J. Rathwell, Eileen J. Moore, Phoenix, for plaintiff-appellee.

Robbins & Green, P.A. by William P. Hovell, Robert H. Green, Mark W. Romney, Phoenix, for defendants-appellants.


OPINION

JACOBSON, Judge.

This appeal presents the question, under the Uniform Commercial Code, of whether a bank holding a secured interest in growing crops is entitled to proceeds of insurance covering that crop as against the insurer of the crop, who has not received a premium for the insurance.

The pertinent facts are not in dispute. In April, 1984, appellant, Continental Insurance Company, issued a cotton hail insurance policy through its broker...

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