Receipts for payment of principal or interest on loan

Sec. 15. All payments of principal or interest must be paid to the county treasurer. The: (1) treasurer shall file a receipt with the county auditor; and (2) auditor shall give the payor a receipt and record the payment. The county auditor may accept payment of principal or interest if the county auditor can immediately transmit and pay the payment to the county treasurer. [Pre-2006 Recodification Citation: 21-1-7-13 part.] As added by P.L.2-2006, SEC.165.