Indiana Code 36-9-36-60. Reduction of installments
Current as of: 2023 | Check for updates
|
Other versions
Sec. 60. (a) A statement showing the amount of the reduction of the installments shall be certified to the disbursing officer if:
(2) a court orders a reduction of principal and interest as assessed.
(1) the property is sold by the sheriff under this chapter and the money collected is insufficient to pay the principal and interest in full; or
Terms Used In Indiana Code 36-9-36-60
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Sheriff: means the sheriff of the county or another person authorized to perform sheriff's duties. See Indiana Code 1-1-4-5
(b) Upon the receipt of the statement, the disbursing officer shall do the following:
(1) Calculate the reduction that applies to each installment.
(2) Enter on the bonds the amount of the reduction when the bonds are presented for payment.
As added by P.L.98-1993, SEC.7.