17:3B-34. Additional interest, charges permitted
6. In addition to or in lieu of interest at a periodic rate or rates as provided pursuant to sections 4 and 5 of this act, a bank may, if the agreement governing the revolving credit plan so provides, charge and collect as interest, in the manner or form as the plan may provide, one or more of the following:
a. A daily, weekly, monthly, annual or other periodic charge in the amount or amounts as the agreement may provide for the privileges made available to the borrower under the plan.
b. A transaction charge or charges in the amount or amounts as the agreement may provide for each separate purchase or loan under the act.
c. 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.
d. Reasonable fees for services rendered or for reimbursement of expenses incurred in good faith by the bank 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.
e. Returned payment charges.
f. Documentary evidence charges.
g. Stop payment fees.
h. Over limit charges.
i. Automated teller machine charges or similar electronic or interchange fees or charges.
j. Any other fee expressly disclosed to the borrower prior to the imposition of the fee.
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Last modified: October 11, 2016