Richard Mitchell Larry Cotten First National Bank of Fort Smith, Arkansas v. State Farm Fire & Casualty Company

Defendant-appellant State Farm Fire and Casualty Company (State Farm) appeals the trial court’s grant of partial summary judgment to plaintiffs-appellees on the ground that Arkansas law, rather than Colorado law, governs determination of the amount due to plaintiffs under an insurance policy issued by State Farm on a Colorado property destroyed by fire. We reverse.

Facts

The following facts are undisputed unless otherwise noted:

On September 6, 1976, State Farm, an Illinois corporation, issued an insurance policy for fire and extended coverage (Policy) on a property described as Units 1, 2, 3…