Section 482
Procedures To Be Fulfilled In Paying And Collecting Principal And Interest
erest: The following procedures shall be fulfilled in paying and
collecting interest:
(a) If the debtor repays the whole of the principal and
interest, the creditor shall sign and return the deed on
transaction to the debtor by tearing out the deed or
indicating on its space or reverse side that the loan has
been repaid,
(b) If the deed is not found at the time of repayment of the
principal and interest pursuant to clause (a), the
creditor shall give the debtor a receipt indicating the
receipt of the particular amount on the particular date,
(c) In repaying some amount out of the principal and
interest, the creditor shall indicate on the reverse side
of the deed how much he or she has received from the
debtor on which date, and get the debtor to sign the
deed and issue a separate receipt of amount
accordingly if the deed is not found immediately or it
is not with the creditor for the time being.