Me. Rev. Stat. tit. 9-A, § 11-110

Calculation of late charges

Known as the Maine Consumer Credit Code

The act spans §§ 1-101 to 11-122 (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.