Is it acceptable to accept a loan payment on a matured loan without rewriting the note? I thought once a loan matured all transactions (advances and payments) should stop. Does it make any difference whether it's consumer or commercial?

I know you posted this in the State forum, but this really is a legal question and I think you want to sit down with your legal counsel. Whether or not accepting payments under certain situations creates some obligation to continue to do so or creates other such risks are most likely going to be based on case law and not specific State statutes.

Ok, I posted it here because in another question it said it depended on state law. Thanks.