§ 6-26.1-5 Interest fees and charges.– (a) In addition to or in lieu of interest at a periodic percentage rate orrates as provided in § 6-26.1-4, a credit card lender may, if theagreement governing the credit card plan so provides, charge and collect, asinterest, in any manner or form that the plan may provide, one or more of thefollowing:
(1) Daily, weekly, monthly, annual or other periodic chargesin any amount or amounts that the agreement may provide for the privileges madeavailable to the borrower under the plan;
(2) A transaction charge or charges in any amount or amountsthat the agreement may provide for each separate purchase, loan, or othertransaction under the plan;
(3) A minimum charge for each daily, weekly, monthly, annualor other scheduled billing period under the plan during any portion of whichthere is an outstanding unpaid indebtedness under the plan;
(4) Reasonable fees for services rendered or forreimbursement of expenses incurred in good faith by the credit card lender orits agents in connection with the plan, or other reasonable fees incident tothe application for and the opening, administration and termination of a planincluding, without limitation, commitment, application and processing fees,official fees and taxes, costs incurred by reason of examination of title,inspection, appraisal, recording, mortgage satisfaction or other formal actsnecessary or appropriate to the security for the plan, and filing fees;
(5) Returned payment charges or charges imposed for thereturn of a draft or check drawn on a credit card plan evidencing an extensionof credit under the plan;
(6) Documentary evidence charges;
(7) Stop payment fees;
(8) Overlimit charges;
(9) Automated teller machine charges or other electronic orinterchange fees or charges;
(10) Prepayment charges authorized under subsection (b) ofthis section; and
(11) Subject to any limitations contained in this chapter,any other fees and charges that are set forth in the agreement governing theplan.
(b) An individual borrower may pay the outstanding unpaidindebtedness charged to the borrower's account under a plan in full at anytime. Except for a charge imposed to terminate a plan if the agreementgoverning the plan so provides, a credit card lender may not impose anyprepayment charge in connection with the payment of outstanding unpaidindebtedness in full by an individual borrower. The terms of prepayment of theoutstanding unpaid indebtedness relating to a credit card plan involving aborrower other than an individual borrower shall be as the lender and theborrower may agree.
(c) No charges assessed in accordance with this section shallbe deemed void as a penalty or otherwise unenforceable under any statute or thecommon law.
§ 6-26.1-5 Interest fees and charges.– (a) In addition to or in lieu of interest at a periodic percentage rate orrates as provided in § 6-26.1-4, a credit card lender may, if theagreement governing the credit card plan so provides, charge and collect, asinterest, in any manner or form that the plan may provide, one or more of thefollowing:
(1) Daily, weekly, monthly, annual or other periodic chargesin any amount or amounts that the agreement may provide for the privileges madeavailable to the borrower under the plan;
(2) A transaction charge or charges in any amount or amountsthat the agreement may provide for each separate purchase, loan, or othertransaction under the plan;
(3) A minimum charge for each daily, weekly, monthly, annualor other scheduled billing period under the plan during any portion of whichthere is an outstanding unpaid indebtedness under the plan;
(4) Reasonable fees for services rendered or forreimbursement of expenses incurred in good faith by the credit card lender orits agents in connection with the plan, or other reasonable fees incident tothe application for and the opening, administration and termination of a planincluding, without limitation, commitment, application and processing fees,official fees and taxes, costs incurred by reason of examination of title,inspection, appraisal, recording, mortgage satisfaction or other formal actsnecessary or appropriate to the security for the plan, and filing fees;
(5) Returned payment charges or charges imposed for thereturn of a draft or check drawn on a credit card plan evidencing an extensionof credit under the plan;
(6) Documentary evidence charges;
(7) Stop payment fees;
(8) Overlimit charges;
(9) Automated teller machine charges or other electronic orinterchange fees or charges;
(10) Prepayment charges authorized under subsection (b) ofthis section; and
(11) Subject to any limitations contained in this chapter,any other fees and charges that are set forth in the agreement governing theplan.
(b) An individual borrower may pay the outstanding unpaidindebtedness charged to the borrower's account under a plan in full at anytime. Except for a charge imposed to terminate a plan if the agreementgoverning the plan so provides, a credit card lender may not impose anyprepayment charge in connection with the payment of outstanding unpaidindebtedness in full by an individual borrower. The terms of prepayment of theoutstanding unpaid indebtedness relating to a credit card plan involving aborrower other than an individual borrower shall be as the lender and theborrower may agree.
(c) No charges assessed in accordance with this section shallbe deemed void as a penalty or otherwise unenforceable under any statute or thecommon law.
§ 6-26.1-5 Interest fees and charges.– (a) In addition to or in lieu of interest at a periodic percentage rate orrates as provided in § 6-26.1-4, a credit card lender may, if theagreement governing the credit card plan so provides, charge and collect, asinterest, in any manner or form that the plan may provide, one or more of thefollowing:
(1) Daily, weekly, monthly, annual or other periodic chargesin any amount or amounts that the agreement may provide for the privileges madeavailable to the borrower under the plan;
(2) A transaction charge or charges in any amount or amountsthat the agreement may provide for each separate purchase, loan, or othertransaction under the plan;
(3) A minimum charge for each daily, weekly, monthly, annualor other scheduled billing period under the plan during any portion of whichthere is an outstanding unpaid indebtedness under the plan;
(4) Reasonable fees for services rendered or forreimbursement of expenses incurred in good faith by the credit card lender orits agents in connection with the plan, or other reasonable fees incident tothe application for and the opening, administration and termination of a planincluding, without limitation, commitment, application and processing fees,official fees and taxes, costs incurred by reason of examination of title,inspection, appraisal, recording, mortgage satisfaction or other formal actsnecessary or appropriate to the security for the plan, and filing fees;
(5) Returned payment charges or charges imposed for thereturn of a draft or check drawn on a credit card plan evidencing an extensionof credit under the plan;
(6) Documentary evidence charges;
(7) Stop payment fees;
(8) Overlimit charges;
(9) Automated teller machine charges or other electronic orinterchange fees or charges;
(10) Prepayment charges authorized under subsection (b) ofthis section; and
(11) Subject to any limitations contained in this chapter,any other fees and charges that are set forth in the agreement governing theplan.
(b) An individual borrower may pay the outstanding unpaidindebtedness charged to the borrower's account under a plan in full at anytime. Except for a charge imposed to terminate a plan if the agreementgoverning the plan so provides, a credit card lender may not impose anyprepayment charge in connection with the payment of outstanding unpaidindebtedness in full by an individual borrower. The terms of prepayment of theoutstanding unpaid indebtedness relating to a credit card plan involving aborrower other than an individual borrower shall be as the lender and theborrower may agree.
(c) No charges assessed in accordance with this section shallbe deemed void as a penalty or otherwise unenforceable under any statute or thecommon law.
