§ 4-11-2-1 — Loans of state funds; release of mortgages; evidence of payment

(a) In all cases where lands in this state have
been mortgaged to the state of Indiana, or to trustees or to custodians
of the funds hereinafter named, or to the officers having had control
and management prior to January 1, 1900, to secure the loans of the
Indianapolis funds, the bank tax fund, the treasury fund, the
congressional fund, the saline fund, the sinking fund, the state surplus
revenue fund, the county surplus fund, the state university fund, the
college fund, the seminary fund, the permanent endowment fund and
all other state trust funds of this state, except the common school fund,
and the loans have been paid and not released, or not legally and
properly released of record, or, having been released, the releases have
been lost before being recorded in the proper recorder's office, the state
comptroller of the state of Indiana is authorized and directed to execute
a release of the mortgage under the state comptroller's hand and the
seal of the state comptroller's office.
(b) In case evidence of the payment of mortgage debts appears in
the records in the office of the state comptroller, or in the office of the
treasurer of state, then the release of the mortgage shall be executed
without further proof, but if not, then the state comptroller shall require
documentary evidence and affidavits or other proof to be filed in the
state comptroller's office, which shall establish to the state
comptroller's satisfaction the fact of full payment of the mortgage debt,
and the state comptroller shall release the mortgage.
Formerly: Acts 1919, c.28, s.1. As amended by P.L.215-2016,
SEC.72; P.L.9-2024, SEC.73.