If an installment on a loan is 30 days or more past due on the loan's payment schedule, the corporation may require the loan borrower to pay a late fee of up to $15 for the installment. If a deferment of payment on a loan is approved under 20 AAC 15.965, the corporation may waive the late fee. This section applies to a loan that the corporation has originated, purchased, or participated in purchasing under AS 14.42.200.

(Eff. 7/31/2016, Register 219)