There is a newer version of the Mississippi Code
2016 Mississippi Code
Title 81 - Banks and Financial Institutions
Chapter 12 - Savings Associations Law
§ 81-12-167. Late payment charges
MS Code § 81-12-167 (2016) What's This?
A late payment charge, not exceeding Five Dollars ($ 5.00) or four percent (4%) of the amount of any delinquency, whichever is greater, if contracted for, shall not be considered interest under the usury laws. However, no such charge shall be made unless such delinquency is more than fifteen (15) days past due.
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