Before a utility may impose a late payment charge, the utility shall comply with the requirements in subparts 2 to 5.
The utility shall file and have approved by the commission tariffs providing for the late payment charge and specifying the terms and conditions of the late payment charge. The filing must include substantiating documents and exhibits supporting the finance fee and grace periods proposed.
The utility shall clearly indicate upon each bill the terms and conditions of the late payment charge, including the date after which the late payment charge is applied, the amount of the late payment charge after the charge is actually applied, and the monthly and the annual percentage rate of the late payment charge.
The utility shall administer its late payment charge in a nondiscriminatory manner.
By August 7, 1984, the utility shall comply with the tariff, bill content, and uniformity requirements of subparts 2 to 4.
8 SR 2335
October 9, 2008