Section 81.143. Late charges

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The Authority will assess late charges when payments under the loans are delinquent. These charges will be assessed on a monthly basis and accrue at a rate of not less than 6.0% of each monthly payment which is in default.

The provisions of this § 81.143 adopted July 11, 1975, effective July 12, 1975, 5 Pa.B. 1781; amended February 6, 1987, effective February 7, 1987, 17 Pa.B. 634. Immediately preceding text appears at serial page (49507).

Notation

Authority

The provisions of this § 81.143 amended under section 9 of the Pennsylvania Minority Business Development Authority Act (73 P. S. § 390.9).

                    
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