Liquidated damages
Sec. 6. It shall be unlawful for any such agreement or agreements
to provide for forfeiture and retention of payments upon any such
agreement or series of agreements as and for liquidated damages for
default therein in excess of 10% of the payments made or $35.00,
whichever sum is the larger.
(Formerly: Acts 1963, c.303, s.6.)
Last modified: May 27, 2006