PART IV. LIMITATIONS ON AGREEMENTS AND PRACTICES
§3534. Fees; attorney, collection agency
A. Any consumer credit transaction agreement may provide for the payment by the consumer of attorney's fees not in excess of twenty-five per cent of the unpaid debt after default and referral to an attorney for collection.
B. An extender of credit may not contract with a consumer for the reimbursement of fees paid to a collection agency employed to collect the consumer's indebtedness.
Acts 1986, No. 584, §1, eff. July 2, 1986.
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