1-55-4. Cost recovery fees. For any bad debt referred to the center for collection after July 1, 2015, the center shall collect a cost recovery fee in addition to the debt referred to the center for collection. The cost recovery fee is calculated by multiplying the principal amount of the debt referred to the center by twenty percent. All debt collection methods available to collect any bad debt referred to the center may be used by the center to collect the cost recovery fee. The cost recovery fee shall be deposited into the general fund and the operations of the center and shall be subject to the annual budgeting process specified in chapter 4-7.
Source: SL 2015, ch 14, § 4.
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