Minnesota Administrative Rules

7820.5500 AMOUNT OF LATE PAYMENT CHARGE.

Subpart 1.

Calculation.

A late payment charge imposed by a utility must be calculated as follows in subparts 2 to 4.

Subp. 2.

Minimum delinquent amount.

The utility shall not assess a late payment charge until the delinquent amount exceeds $10.

Subp. 3.

Finance fee.

The utility may impose a finance fee no greater than 1-1/2 percent per monthly billing period on the delinquent amount.

Subp. 4.

Minimum finance fee.

The utility may impose a minimum finance fee no greater than $1.

Statutory Authority:

MS s 216A.05; 216B.03; 216B.23

History:

8 SR 2335

Published Electronically:

October 9, 2008