A reasonable interest charge, approved by the board of directors, may be added to assessments that remain unpaid after one year from the notification of the assessment, and may accumulate annually thereafter on the unpaid balance.
R.I. Gen. Laws § 45-57-8
Unpaid assessments
P.L. 1999, ch. 79, § 2.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.