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2020 Mississippi Code
Title 97 - Crimes
Chapter 19 - False Pretenses and Cheats
§ 97-19-81. Right of lender to add fee to amount of loan when payment on loan made with bad check
Universal Citation:
MS Code § 97-19-81 (2020)
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When an entity that is authorized by the laws of this state to make loans or grant extensions of credit is paid by check to retire all or a part of a loan or extension of credit, and such check is returned because of insufficient funds, and the lender is charged a fee or service charge as a result of such return, the lender shall be authorized to add the actual amount of such fee or service charge up to a maximum amount of Fifteen Dollars ($15.00) to the principal of the unpaid balance of the loan or extension of credit.
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