1. (a) Designation as full or partial assignment. A statement of assignment should designate whether the assignment of a secured party's interest in all collateral under the financing statement is a full or partial assignment of that interest. The designation shall apply to all secured parties named on the statement of assignment. If no designation is made, the statement of assignment will be treated as a partial assignment.
2. (b) Full assignment--status of secured parties. Upon filing a statement of full assignment, the status of a secured party of record named on the statement of assignment as an authorizing assignor shall be inactive. The status of an assignee shall be that of an active secured party.
3. (c) Partial assignment--status of secured parties. Upon filing a statement of partial assignment, the status of a secured party of record named on the statement of assignment as an authorizing assignor shall continue to be active. The status of the assignee shall also be that of an active secured party.
4. (d) Status of other secured parties. The filing of a statement of assignment shall have no effect upon the status of a secured party not named on the statement of assignment as an authorizing assignor.
5. (e) Status of debtor. The filing of a statement of assignment shall have no effect upon the status of a debtor.
6. (f) Status of financing statement. A statement of assignment shall have no effect upon the status (active, lapsed, terminated, or revoked) of the financing statement.

Source Note:The provisions of this §95.408 adopted to be effective November 1, 1998, 23 TexReg 9727.