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.
[Pre-2006 Recodification Citation: 21-1-7-13.]
As added by P.L.2-2006, SEC.165.
Structure Indiana Code
Article 42. Fiduciary Funds and Accounts
Chapter 1. Administration of Common School Fund by County
20-42-1-4. Prohibition on Reducing Principal of Fund
20-42-1-5. Transfer of Fund Balance to Debt Service Fund and to the Operations Fund
20-42-1-6. Transfer of Custody of Fund Balance to State
20-42-1-7. County Liability for Fund
20-42-1-8. Deposit of Interest in Fund
20-42-1-9. Required Transfer of Revenue to State
20-42-1-10. Loans; Required Interest Rate
20-42-1-11. Minimum Balance; Loans; Maximum Term
20-42-1-12. Form of Loan Agreement
20-42-1-13. Distribution of Loaned Amount From Fund
20-42-1-15. Receipts for Payment of Principal or Interest on Loan