Ark. Code Ann. § 16-61-112: Assignments

(a) When the assignment is not authorized by statute, the assignor must be a party as plaintiff or defendant.

(b) Where the right of the plaintiff is transferred or assigned during the pendency of the action, it may be continued in his or her name, or the court may allow the person to whom the transfer or assignment is made to be substituted in the action, proper orders being made as to security for the costs.

Civil Code, §§ 26, 27; Acts 1873, No. 88, § 1 [26], p. 213; C. & M. Dig., §§ 1090, 1091; Pope's Dig., §§ 1306, 1307; A.S.A. 1947, §§ 27-802, 27-803.