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PRODUCTION CREDIT ASS'N v. BARTOS

No. C1-88-719.

430 N.W.2d 238 (1988)

PRODUCTION CREDIT ASSOCIATION OF WEST CENTRAL MINNESOTA, formerly Production Credit Association of Alexandria, Appellant, v. Anthony C. BARTOS, et al., Respondents, Lowry State Bank, Lowry, Minnesota, third-party Plaintiff, Respondent.

Court of Appeals of Minnesota.

October 11, 1988.

Attorney(s) appearing for the Case

Gary I. Syverson, Swenson, Grover, Lervick, Syverson & Battey, Ltd., Alexandria, for appellant.

Robert V. Maki, Alexandria, for Bartos, et al.

Scott T. Johnston, Alexandria, Robert J. Walter, Krass & Monroe, Shakopee, for Lowry State Bank.

Considered and decided by FOLEY, P.J., and CRIPPEN and SHORT, JJ., without oral argument.

OPINION

SHORT, Judge.

Appellant Production Credit Association of West Central Minnesota (PCA) and respondent Lowry State Bank (Lowry) both claim to have security interests in a backhoe and trailer owned by respondents Anthony and Anita Bartos (Bartos). The trial court ruled that Lowry has a perfected security interest in the backhoe and trailer, and that PCA does not. We disagree and reverse.

FACTS

On April 21, 1980, PCA loaned Bartos ...

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