California Civil Code

§ 1812.626

CIV § 1812.626 Effective Jan 1, 1995Div. 3 · Title 2.96 · Part 4

Statute text

(a)The lessor may assess a late payment fee if the late payment fee is specified in the rental-purchase agreement and is permitted by this section.

(b)No fee shall be assessed for a payment which is less than three days late if the rental-purchase agreement specifies weekly periodic payments.

(c)No fee shall be assessed for a payment which is less than 7 days late if the rental-purchase agreement specifies longer than weekly periodic payments.

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Legislative history

Added by Stats. 1994, Ch. 1026, Sec. 1. Effective January 1, 1995.