§11-110. Calculation of late charges
49 words·~1 min read·
/me/title-9-a-maine-consumer-credit-code/11-110·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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).]