§ 39-1-57 - Assignment.
SECTION 39-1-57
§ 39-1-57 Assignment. – (a) A transfer to an assignee of any interest in a securitization order,including any intangible transition property arising therefrom, and anyrevenues or other proceeds arising in respect of such property, wheneverrealized, shall be perfected as against third parties, including any otherpurchaser from the transferor, when:
(1) the related securitization order becomes effective;
(2) a written instrument of assignment has been executed bythe assignor and delivered to the assignee; and
(3) a statement describing the assignment has been filed withthe commission in accordance with its rules established pursuant to §39-1-56. A filing shall be effective as of the date of assignment, if made onor before the date of the assignment or within ten (10) days thereafter.
(b) The relative priority of interest of two (2) or moreassignees for value, and without notice, who have filed in accordance with therules of the commission, shall be determined by reference to the order in whichtheir statements have been filed; and, if an assignment with respect to which acomplying filing has been made shall for any purpose of law be treated as asecurity interest, the filing shall be deemed effective as a filing withrespect to such security interest.