262.16 - SATISFACTION OF MORTGAGES.
262.16 SATISFACTION OF MORTGAGES.
When loans are paid, the board shall release mortgages securing
the same as follows:
1. By a satisfaction piece signed and acknowledged by the
treasurer of the institution to which the loan belongs, which shall
be recorded in the office of the recorder of the county where said
mortgage is of record; or
2. By entering a satisfaction thereof on the margin of the record
of said mortgage, dated, and signed by the treasurer of the
institution to which the loan belongs. Section History: Early Form
[SS15, § 2682-t; C24, 27, 31, 35, 39, § 3928; C46, 50, 54, 58,
62, 66, 71, 73, 75, 77, 79, 81, § 262.16]