North Dakota § 51-14-03 Limitation of credit service charge

North Dakota Statutes

§ 51-14-03 — Limitation of credit service charge

North Dakota·Title 51 Sales and Exchanges·Ch. 51-14 Revolving Charge Accounts

In a revolving charge agreement, a seller may contract for and, if so contracted for, the
seller or holder of the agreement may charge, receive, and collect the service charge authorized
by this section. The service charge may not exceed the amount agreed to by the parties. In the
event any payment by a buyer is insufficient to pay both the credit service charge and that
portion of the outstanding indebtedness then due, the payments must first be applied to the
credit service charge then due.

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In a revolving charge agreement, a seller may contract for and, if so contracted for, the
seller or holder of the agreement may charge, receive, and collect the service charge authorized
by this section. The service charge may not exceed the amount agreed to by the parties. In the
event any payment by a buyer is insufficient to pay both the credit service charge and that
portion of the outstanding indebtedness then due, the payments must first be applied to the
credit service charge then due.

North Dakota § 51-14-03 (Limitation of credit service charge) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.