§ 66-306. Late fees. - North Carolina Statutes

§66‑306.  Late fees.

(a)        In all rentalcontracts in which a definite time for the payment of the rent is fixed, thelate fee for each rental unit shall not exceed fifteen percent (15%) of therental payment and shall not be imposed by the self‑service storagebusiness until the rental payment for that rental unit is five days or morelate.

(b)        A late fee underthis section may be imposed only one time for each late rental payment. A latefee for a specific late rental payment shall not be deducted from a subsequentrental payment so as to cause the subsequent rental payment to be in default. (1999‑416,s. 1.)