Late Charges
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Statutes
A creditor may charge, receive, and collect a late payment charge on all money due on account from thirty days after the obligation of the debtor to pay has been incurred.The late payment charge allowed may not exceed one and three-fourths percent per month. The late payment charge may not be charged unless, when the obligation was incurred, the creditor did not intend to extend any credit beyond thirty days and any late payment of the obligation was unanticipated. (NDCC, 13-01-14)
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