The installment maintenance fee may be charged, earned and collected on a monthly basis.

1. (1) The installment maintenance fee may be charged on any fractional part of a month in which the account is prepaid.
2. (2) The installment maintenance fee may be collected monthly in addition to the installment payment.
3. (3) The installment maintenance fee may be added to the amount of the loan if it is precomputed and taken into income monthly. This is to facilitate meaningful disclosure for compliance with Truth in Lending.
4. (4) The certificate of investment or indebtedness or other written agreement shall provide for the installment maintenance fee when applicable.

Authority: T.C.A. §45-2011(c) relative to 45-2007(p). Administrative History: Original Rule certified June 10, 1974. 07 80-1-23-.02 NO CHARGE. No charge can be imposed on the installment maintenance fee. This means no charge for interest, 4% fee, service fee, flat fee, late charge, insurance charge, or a charge of any kind. Authority: T.C.A. §45-2011(c) relative to 45-2007(p). Administrative History: Original Rule certified June 10, 1974.