Title 9-A: MAINE CONSUMER CREDIT CODE

Article 11: RENTAL-PURCHASE PRACTICES

§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.   [PL 2001, c. 287, §11 (AMD).]

SECTION HISTORY

PL 1991, c. 787 (NEW). PL 2001, c. 287, §11 (AMD).