Section 2-A-531. Standing to Sue Third Parties for Injury to Goods

(1)  If a third party so deals with goods that have been identified to
  a lease contract as to cause actionable injury to a party to  the  lease
  contract  (a)  the lessor has a right of action against the third party,
  and (b) the lessee also has a right of action against the third party if
  the lessee:
             (i) has a security interest in the goods;
            (ii) has an insurable interest in the goods; or
           (iii) bears the risk of loss under the lease  contract  or  has
                 since  the injury assumed that risk as against the lessor
                 and the goods have been converted or destroyed.
    (2) If at the time of the injury the party plaintiff did not bear  the
  risk  of loss as against the other party to the lease contract and there
  is no arrangement between them for disposition of the recovery,  his  or
  her  suit  or  settlement,  subject  to his or her own interest, is as a
  fiduciary for the other party to the lease contract.
    (3) Either party with the consent of the other may sue for the benefit
  of whom it may concern.