IC 20-42-1-15: Receipts for payment of principal or interest on loan

Sec. 15. (a) All payments of principal or interest must be paid to the county treasurer. The:

(1) county treasurer shall file a receipt with the county auditor; and

(2) county auditor shall give the payor a receipt and record the payment.

(b) 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.