Section 721-3 - Satisfactions, methods and indexing(a) Methods of satisfying mortgages.--(1) Mortgages shall be satisfied by satisfaction pieces and also in the case of residential mortgages by settlement officer satisfactions as described in sections 5 and 7 and not by entering satisfaction upon the margin of the record of such mortgage. A satisfaction piece or settlement officer satisfaction need not be accompanied by the original mortgage instrument or a copy thereof, certified or otherwise, when presented for recording. If required by the recording officer for the applicable county, a satisfaction piece or settlement officer satisfaction shall be accompanied by information sufficient to validate the original mortgage recording information in the public record, which shall be at the option of the mortgagee or settlement officer one of the following: (i) The original mortgage.(ii) A legible image of the first page of the mortgage.(iii) A validation fee as established by the recording officer.(2) Any recording officer who shall elect the recording validation procedure described in paragraph (1) shall give notice of such election, which notice shall be entitled "Notice of Election by (recording officer) to Adopt Recording Information Validation Procedure under the Mortgage Satisfaction Act," shall state any additional fees to be charged and shall be advertised in the county recorder's yearly fee schedule or fee bill, whichever is applicable.(b) Indexing.--The recording officer shall properly index all satisfaction pieces and settlement officer satisfactions against the name of the mortgagee or last assignee as each is indicated in the satisfaction piece or settlement officer satisfaction, and the recording officer shall indicate the recording of each satisfaction piece and settlement officer satisfaction in the mortgage record.(c) Liability of recording officer.--Nothing contained in this act shall impose liability on any recording officer or any political subdivision for any mistake, error or inaccuracy found in any satisfaction piece or settlement officer satisfaction which was presented for recording by any person or entity and which was recorded by the recording officer or political subdivision.2002, Dec. 9, P.L. 1530, No. 197, § 3, effective in 60 days.