§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).
Structure Maine Revised Statutes
TITLE 9-A: MAINE CONSUMER CREDIT CODE
Article 11: RENTAL-PURCHASE PRACTICES
9-A §11-102. Purpose; rules of construction
9-A §11-103. Supplementary general principles of law applicable
9-A §11-106. Inapplicability of other laws; exempt transactions
9-A §11-107. General requirements of disclosure
9-A §11-109. Prohibited practices
9-A §11-110. Calculation of late charges
9-A §11-111. Allowable charges
9-A §11-112. Default; notice of default and right to cure
9-A §11-114. Consumer's right to acquire ownership when 50% of payments equals cash price
9-A §11-115. Liability damage waivers; fees
9-A §11-116. Receipts and accounts
9-A §11-117. Renegotiations and extensions
9-A §11-118. Advertising and point-of-sale disclosure
9-A §11-119. Collection activity