Sec. 45.35.030. Late fees.
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/ak/title-45/chapter-35/45-35-030A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 45.35.030. Late fees.
(a)A lessor may not charge a consumer more than $5 for each payment that is late under a lease-purchase agreement.
(b)When calculating time for the purpose of determining whether a lease payment is late and subject to a late fee under a lease-purchase agreement, a lessor may not include any period of time when the personal property has been repossessed by the lessor or voluntarily surrendered by the consumer.