Indiana Statutes
§ 26-2-2-3 — Duty to receipt for payments made
It shall be the duty of the holder of any mortgage
on household goods, or the agent of such holder or mortgagee whose
duty it is to receive money on such mortgage, when any money, check
or anything taken in payment on such mortgage or interest due thereon,
is received by them from the mortgagor or from any person acting for
the mortgagor, to give to the mortgagor or person making the payment
a receipt specifying the amount paid and stating the unpaid balance, if
any. However, no receipt is required where payment is made by check.
If any such holder or mortgagee or the agent of such holder or
mortgagee whose duty it is to receive such payments, shall fail to
execute and deliver such receipt to the mortgagor, such mortgage shall
be void.
Formerly: Acts 1897, c.176, s.3; Acts 1957, c.188, s.1
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Nearby Sections
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§ 26-1-1-0.3
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Status of certain security interests; conditions; lapsing of perfection;
filing of financing statements§ 26-1-1-101
Short title; application§ 26-1-1-104
Construction against implicit repeal§ 26-1-1-105
Repealed§ 26-1-1-106
Remedies to be liberally administered§ 26-1-1-108
Severability