(1) When a person is convicted of criminal activities which have resulted in pecuniary damages, in addition to any other sentence it may impose, the court may order that the defendant make restitution to the victim; provided, however, that the justice court shall not order restitution in an amount exceeding Five Thousand Dollars ($5,000.00).
(2) In determining whether to order restitution which may be complete, partial or nominal, the court shall take into account: The financial resources of the defendant and the burden that payment of restitution will impose, with due regard to the other obligations of the defendant;
(3) The ability of the defendant to pay restitution on an installment basis or on other conditions to be fixed by the court; and
(4) The rehabilitative effect on the defendant of the payment of restitution and the method of payment.
(5) If the defendant objects to the imposition, amount or distribution of the restitution, the court shall, at the time of sentencing, allow him to be heard on such issue.
(6) If the court determines that restitution is inappropriate or undesirable, an order reciting such finding shall be entered, which should also state the underlying circumstances for such determination.