(a) Any county collector may contract with one (1) or more financial institutions to act as his or her agents to receive real and personal property tax payments on his or her behalf.
(b) Tax payments received under a contract as provided for in this section shall be collected at the same time and in the same manner as all other property tax payments, and no payments shall be collected after the last payment day established by law.
(c) A financial institution receiving tax payments under a contract as provided for in this section, shall, on the first working day of each week, transmit to the county collector all property taxes received during the preceding week.
(d) As used in this section, "financial institution" means any organization or enterprise which receives deposits and forwards checks, drafts, or orders for collection and which is subject to state or federal regulation.
(e) Nothing in this section shall permit a county collector to make any payment to a financial institution for receiving real and personal property taxes as provided in this section.
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