§ 47-D — Cancellation of assignment

§ 47-d. Cancellation of assignment. Upon the payment or satisfaction\nof the indebtedness, and upon written demand delivered personally or by\nregistered mail by the assignor, the assignee shall execute and\nacknowledge or prove, and deliver to the assignor a certificate setting\nforth that the indebtedness has been paid or otherwise satisfied and\ndischarged. Such certificate must recite the date of the assignment, the\nnames of the parties thereto, the amount of the original indebtedness,\nthe filing number, the date of filing thereof, including every\nassignment of said assignment, if any, specifying in the recital of each\nassignment the date thereof, the names of the parties thereto, the\nfiling date and the serial number thereof.\n If for ten days after such demand the assignee fails to mail or\ndeliver such a statement of satisfaction, he shall forfeit to the\nassignor five dollars, and be liable for all damages suffered. Upon\npresentation of such statement of satisfaction the filing officer shall\nfile the same and note the cancellation of the assignment and the date\nthereof on the margin of the page where the assignment has been entered.\n