Notice to borrower of penalty for repayment prior to date for repayment in loan agreement.

Checkout our iOS App for a better way to browser and research.



Do not sign this loan agreement before you read it. This loan agreement provides for the payment of a penalty if you wish to repay the loan prior to the date provided for repayment in the loan agreement.


(2) If a loan agreement does not contain a notice as required by subsection (1) of this section, a lender shall not collect from the borrower a penalty for payment of the loan prior to the date provided for repayment. [1973 c.611 §1; 1985 c.359 §1]

Download our app to see the most-to-date content.