§ 40-14-106 — Waiver; agreement to forego rights; settlement of claims; legal rate of interest; applicability

(a) Except as otherwise provided in this act, a buyer,
lessee, or debtor may not waive or agree to forego rights or
benefits under this act.
(b) A claim by a buyer, lessee, or debtor against a
creditor for an excess charge, other violation of this act, or
civil penalty, or a claim against a buyer, lessee, or debtor for
default or breach of a duty imposed by this act, if disputed in
good faith, may be settled by agreement.
(c) A claim, whether or not disputed, against a buyer,
lessee, or debtor may be settled for less value than the amount
claimed.
(d) A settlement in which the buyer, lessee, or debtor
waives or agrees to forego rights or benefits under this act is
invalid if the court as a matter of law finds the settlement to
have been unconscionable at the time it was made. The competence
of the buyer, lessee, or debtor, any deception or coercion
practiced upon him, the nature and extent of the legal advice
received by him, and the value of the consideration are relevant
to the issue of unconscionability.
(e) If there is no agreement or provision of law for a
different rate, the interest of money shall be at the rate of
seven percent (7%) per annum.
(f) The Financial Technology Sandbox Act shall apply to
this act.