Section 7-9A-905 Effect of Assignment; When Assignment Effective.

(a) An assignee obtains the rights, title, and interests of the assignor in the assigned assets. (b) Unless the assignor is an individual, an assignee obtains the rights, title, and interests of the assignor in assets acquired after the assignment. (c) Except as provided in Section 7-9A-910(b)(12), an assignee takes each assigned asset subject to an existing interest in the asset held by another person. (d) An assignee holds the assigned assets subject to the assignee’s duties under Section 7-9A-909. (e) An assignment is subject to other law under which the assignment may be fraudulent or otherwise voidable. (f) The effective date of the assignment agreement is the date the assignment agreement is signed by the last party to the assignment agreement which is required to sign the assignment agreement unless a later date is identified in the assignment agreement as the effective date.