9-A §11-110. Calculation of late charges
Title 9-A: MAINE CONSUMER CREDIT CODE
Article 11: RENTAL-PURCHASE PRACTICES HEADING: PL 1991, C. 787 (NEW)
§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. [2001, c. 287, §11 (AMD).]
SECTION HISTORY
1991, c. 787, (NEW). 2001, c. 287, §11 (AMD).