Rule 1-4-10.12 - Assignment of Powers of Secured Party of RecordA. Status of the Parties - An assignment shall have no effect on the status of the parties to the financing statement, except that each assignee named in the assignment shall become a secured party of record.B. Status of the Financing Statement - An assignment shall have no effect upon the status of the financing statement.75-9-519 et seq. Mississippi Code of 1972 as amended.