Sec. 3. A mortgage of real estate, including an instrument having the legal effect of a mortgage, may not authorize the mortgagee to sell the mortgaged property. The sale of mortgaged property by the mortgagee may only be made under a judicial proceeding.
[Pre-2002 Recodification Citation: 32-8-11-3.]
As added by P.L.2-2002, SEC.14.