A late payment charge imposed by a utility must be calculated as follows in subparts 2 to 4.
The utility shall not assess a late payment charge until the delinquent amount exceeds $10.
The utility may impose a finance fee no greater than 1-1/2 percent per monthly billing period on the delinquent amount.
The utility may impose a minimum finance fee no greater than $1.
8 SR 2335
October 9, 2008