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Original Notes Mark​ed​ ​"​Paid​": Non-Real Estate

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Question: 
Is there a legal requirement to send original notes mark​ed​ ​"​paid​"​ on​ loans paid in full back to customers for loans secured by non-real estate? I​ understand vehicle titles, etc​.,​ should be returned, but does the note need to​ be returned for unsecured credit, CD credit and vehicle loans?
Answer: 

This is a state law issue.

First published on 10/15/2017

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Filed under lending as: 

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