§ 6-26.1-5. Interest fees and charges.
(a) In addition to, or in lieu of, interest at a periodic percentage rate or rates as
provided in § 6-26.1-4, a credit card lender may, if the agreement governing the credit card plan so provides,
charge and collect, as interest, in any manner or form that the plan may provide,
one or more of the following:
(1) Daily, weekly, monthly, annual, or other periodic charges in any amount or amounts
that the agreement may provide for the privileges made available to the borrower under
the plan;
(2) A transaction charge or charges in any amount or amounts that the agreement may provide
for each separate purchase, loan, or other transaction under the plan;
(3) A minimum charge for each daily, weekly, monthly, annual or other scheduled billing
period under the plan during any portion of which there is an outstanding unpaid indebtedness
under the plan;
(4) Reasonable fees for services rendered or for reimbursement of expenses incurred in
good faith by the credit card lender or its agents in connection with the plan, or
other reasonable fees incident to the application for and the opening, administration
and termination of a plan including, without limitation, commitment, application and
processing fees; official fees and taxes; costs incurred by reason of examination
of title, inspection, appraisal, recording, mortgage satisfaction, or other formal
acts necessary or appropriate to the security for the plan; and filing fees;
(5) Returned payment charges or charges imposed for the return of a draft or check drawn
on a credit card plan evidencing an extension of credit under the plan;
(6) Documentary evidence charges;
(7) Stop payment fees;
(8) Overlimit charges;
(9) Automated teller machine charges or other electronic or interchange fees or charges;
(10) Prepayment charges authorized under subsection (b) of this section; and
(11) Subject to any limitations contained in this chapter, any other fees and charges that
are set forth in the agreement governing the plan.
(b) An individual borrower may pay the outstanding unpaid indebtedness charged to the
borrower's account under a plan in full at any time. Except for a charge imposed to
terminate a plan if the agreement governing the plan so provides, a credit card lender
may not impose any prepayment charge in connection with the payment of outstanding
unpaid indebtedness in full by an individual borrower. The terms of prepayment of
the outstanding unpaid indebtedness relating to a credit card plan involving a borrower
other than an individual borrower shall be as the lender and the borrower may agree.
(c) No charges assessed in accordance with this section shall be deemed void as a penalty
or otherwise unenforceable under any statute or the common law.