§ 56-15-11. Effect of enforcement

The enforcement of an assignment of rents by one or more of the methods identified in Sections 7, 8 and 9 of the Uniform Assignment of Rents Act, the application of proceeds by the assignee pursuant to Section 12 of that act after enforcement, the payment of expenses pursuant to Section 13 of that act or an action pursuant to Subsection D of Section 14 of that act does not: A. make the assignee a mortgagee in possession of the real property; B. make the assignee an agent of the assignor; C. constitute an election of remedies that precludes a later action to enforce the secured obligation; D. make the secured obligation unenforceable; or E. limit any right available to the assignee with respect to the secured obligation.