Me. Rev. Stat. tit. 9-A, § 11-110

Calculation of late charges

Known as the Maine Consumer Credit Code

The act spans §§ 1–11 (208 sections).

PL 1991, c. 787 (NEW)

Any late charge assessed pursuant to section 11‑109, subsection 8 may not exceed the greater of 5% of the delinquent payment amount or $3. Only one late charge may be assessed on any delinquent payment, regardless of how long the payment remains unpaid.

Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.