Section 102 – Delinquency charges.
70C-2-102. Delinquency charges. (1) (a) The parties to any consumer credit agreement may contract for a delinquency charge on any installment not paid in full by its scheduled due date in an amount not exceeding the greater of: (i) $30; or (ii) 5% of the delinquent unpaid amount of the installment. (b) Notwithstanding Subsection (1)(a), […]
Section 103 – Deferral charges.
70C-2-103. Deferral charges. (1) The parties to any consumer credit agreement before or after default may agree in writing to defer all or part of one or more unpaid installments. Except in connection with an open-end credit agreement, the parties may also agree in writing at any time that if an installment is not paid […]