Allows businesses to charge a reasonable late fee to recover the cost of delinquent payments and encourages customers to pay on time; protects all consumers by requiring a cap on late fees; and applies retroactively to protect businesses that, in good faith, imposed late fees in reliance on the generally accepted understanding of the law
Consumer Protection Contracts – Late Fees: SB 145 (2000)
Allows businesses to charge a reasonable late fee to recover
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