JOACHIM SAV. & LOAN ASSOCIATION v. State Farm Fire and Casualty Co.

STEPHAN, Presiding Judge.

This is an appeal from a summary judgment awarding insurance proceeds and damages for vexatious delay of payment on the policy. The trial court granted summary judgment to the plaintiff on the basis that there existed no genuine issue of material fact and defendant appeals.

On November 18,1983, Arthur and Linda Koerber purchased a 1970 Ford Mustang for $1,500.00. The purchase was financed through Joachim Savings & Loan Association (“Joachim”). The Koerbers signed a personal note for $4,935.42, and Joachim took a security interest in the car.

On November 21, 1983, State…