IC 20-42-2-15: 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.