Section 16-117. ACKNOWLEDGEMENT OF PAYMENT IN FULL

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117.1Promptly on written request and in any event within sixty (60) days after payment of all sums for which the buyer is obligated under a retain installment contract, the seller or assignee shall mail or deliver to the buyer sufficient instruments to indicate payment in full and to release all security in the collateral, if any, under the contract.

117.2Delivery, including delivery by mail, of the instruments shall be to the buyer's last known address.

                    
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