[§486N-8.5]  Payment of contract price. 
Every health club contract in excess of one year in duration shall provide that
the contract price be paid by an installment plan, whereby no more than twenty
per cent of the contract price can be paid as the initial payment, and the
balance of the contract price shall be paid in equal monthly amounts over the
remaining term of the contract.  The health club shall be entitled to charge
interest on the overdue unpaid balance of any monthly installment subsequent to
the initial payment.  The interest charged on the contract shall comply with
chapter 478. [L 1989, c 202, §1]