Code of Alabama |
Match Context and Document information |
URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/5-18-15.1.htm |
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Depth: | 0 singles |
Size: | 931 bytes |
Modified: | 2009-03-27 10:06:42 |
Categories: | -None- |
Title: | 5-18-15.1 |
Description: | -None- |
Keywords: | -None- |
Meta data: | -None- |
Body: | Section 5-18-15.1 Additional late payment charge. Notwithstanding the provisions of subsection (e) of Section 5-18-15, for contracts entered into after June 7, 2007, the additional late charge a licensee licensed under this chapter, the Alabama Small Loan Act, may charge when a scheduled payment is in default or delinquent for 10 or more days, is hereby increased from a charge not to exceed the greater of ten dollars ($10) or five percent of the scheduled payment in default to a charge not to exceed the greater of eighteen dollars ($18) or five percent of the scheduled payment in default. (Act 2007-281, p. 383, ยง1.) |