Guardian State Bank v. Lambert

OPINION

GREENWOOD, Judge:

Appellant Charles Lambert dba LC Investments (Lambert) appeals the trial court’s entry of summary judgment in favor of appellee Guardian State Bank (Guardian) declaring that Guardian’s perfected security interest has priority over Lambert’s unperfected security interest in the same collateral. We affirm.

BACKGROUND

On February 10, 1983, Rocky Mountain State Bank (Rocky Mountain) filed a UCC-1 financing statement with the State of Utah covering “[a]ll inventory & accounts receivable, all machinery & equipment, furniture & fixtures, leasehold improvements now owned or…