"Average daily balance" means the sum of each of the daily balances in a billing cycle divided by the number of days in the billing cycle, and if the billing cycle is a month, the creditor may elect to treat the number of days in each billing cycle as thirty (30).

[Pre-2026 Revision Citation: 24-4.5-1-301.5(4).]

As added by P.L.115-2026, SEC.97.