Indiana § 26-2-2-3 - Duty to receipt for payments made
Full text of Indiana Indiana Code § 26-2-2-3 — Duty to receipt for payments made, with citation guidance and answers to common questions.
§ 26-2-2-3. Duty to receipt for payments made
Sec. 3. It shall be the duty of the holder of any mortgage on household goods, or the agent of such holder or mortgagee whose duty it is to receive money on such mortgage, when any money, check or anything taken in payment on such mortgage or interest due thereon, is received by them from the mortgagor or from any person acting for the mortgagor, to give to the mortgagor or person making the payment a receipt specifying the amount paid and stating the unpaid balance, if any. However, no receipt is required where payment is made by check. If any such holder or mortgagee or the agent of such holder or mortgagee whose duty it is to receive such payments, shall fail to execute and deliver such receipt to the mortgagor, such mortgage shall be void.
Formerly: Acts 1897, c.176, s.3; Acts 1957, c.188, s.1; Acts 1973, P.L.267, SEC.1. As amended by Acts 1977, P.L.279, SEC.1.
IC 26-2-3Chapter 3. Negotiable Instruments
26-2-3-1Negotiability by endorsement 26-2-3-2Assignee's right of action 26-2-3-3Availability of defense or set-off against assignee 26-2-3-4Assignee's right of action against endorsers; defenses 26-2-3-5Construction of law 26-2-3-6Negotiability of notes payable to order or bearer in a bank 26-2-3-7Damages payable on protest for nonpayment or nonacceptance of bill of exchange 26-2-3-8Interest on protested bill of exchange 26-2-3-9Rate of exchange 26-2-3-10Limitation of damages against drawer or endorser of protested bill of exchange 26-2-3-11Necessity of consideration 26-2-3-12Bill payable out of state; effect of provision of means for discharge within state 26-2-3-13Exclusion of notes discounted by bank 26-2-3-14Judgment and execution
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 26-2-2-3
What does Indiana Code § 26-2-2-3 cover?
Section 26-2-2-3 ("Duty to receipt for payments made") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 26-2-2-3?
A common citation format is "Indiana Code § 26-2-2-3" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 26-2-2-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.