As used in this chapter, "payoff statement" means a statement of the amount of:

1. (1) the unpaid balance of a loan secured by a mortgage, including principal, interest, and any other charges properly due under or secured by the mortgage; and

2. (2) interest on a per day basis for the unpaid balance.

   [Pre-2002 Recodification Citation: 32-8-15.5-5.]

As added by P.L.2-2002, SEC.14.