45-370. Installment sales contract; extension or deferment authorized; when; fee.
81 words·~1 min read·
/ne/chapter-45/45-370A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The holder of a retail installment sales contract may, upon agreement with the buyer:
(1)Extend the scheduled due date or defer the scheduled payment of any installment payment under the retail installment sales contract; and
(2)Charge and collect a reasonable flat service fee for such extension or deferment in addition to the time-price differential calculated for the period of such extension or deferment at the rate originally agreed upon in the retail installment sales contract on the outstanding balance.