Calculation of late charges

  1. Law
  2. Maine Revised Statutes
  3. MAINE CONSUMER CREDIT CODE
  4. RENTAL-PURCHASE PRACTICES
  5. Calculation of late charges

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§11-110. Calculation of late charges

Any late charge assessed pursuant to section 11‑109, subsection 8 may not exceed the greater of 5% of the delinquent payment amount or $3. Only one late charge may be assessed on any delinquent payment, regardless of how long the payment remains unpaid.   [PL 2001, c. 287, §11 (AMD).]

SECTION HISTORY

PL 1991, c. 787 (NEW). PL 2001, c. 287, §11 (AMD).


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