A premium finance agreement may provide for the payment by the insured of a delinquency charge of $1 to a maximum of 5% of the delinquent installment which is in default for a period of 5 days or more.
CREDIT(S)
(Oct. 9, 1940, ch. 792, ch. III, § 60; Apr. 18, 1966, 80 Stat. 126, Pub. L. 89-403, § 1; Nov. 15, 1983, D.C. Law 5-40, § 2(b), 30 DCR 4994.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 35-1560.
1973 Ed., § 35-1370.
Legislative History of Laws
For legislative history of D.C. Law 5-40, see Historical and Statutory Notes following § 31-1109.