Sec. 5.5. A lessor may contract for and charge a returned payment fee not to exceed twenty-five dollars ($25) for each return by a bank or other depository institution of a dishonored check, electronic funds transfer, negotiable order of withdrawal, or share draft issued by the lessee.
As added by P.L.213-2007, SEC.31; P.L.217-2007, SEC.30. Amended by P.L.69-2018, SEC.40.
Structure Indiana Code
Article 7. Rental Purchase Agreements
24-7-5-1. Nonrefundable Processing Fee
24-7-5-2. Security Deposit Refunds
24-7-5-4. Rental Payment Pickup Charges
24-7-5-5. Late Charges or Delinquency Fees
24-7-5-5.5. Returned Payment Fee
24-7-5-10. Liability of Lessee for Replacement Cost of Leased Property; Fair Market Value
24-7-5-11. Liability Damage Waivers; Fee; Prohibitions and Requirements