2011 Utah Code
Title 70C Utah Consumer Credit Code
Chapter 2 Finance Charges and Related Provisions
Section 102 Delinquency charges.

70C-2-102. Delinquency charges.
(1) (a) The parties to any consumer credit agreement may contract for a delinquency charge on any installment not paid in full by its scheduled due date in an amount not exceeding the greater of:
(i) $30; or
(ii) 5% of the delinquent unpaid amount of the installment.
(b) Notwithstanding Subsection (1)(a), in a contract, renewed, executed, or modified on or after May 3, 1999, a depository institution as defined in Section 7-1-103 may contract for and collect a delinquency charge on an installment not paid in full by its scheduled due date in excess of the limitation imposed under Subsection (1)(a).
(2) This section may not be interpreted to require a creditor to accept a partial payment for an installment.
(3) (a) A delinquency charge as authorized by this section may be collected only once on each installment regardless of how long it remains delinquent.
(b) A delinquency charge may not be collected if:
(i) the installment has been deferred; and
(ii) a deferral charge under Section 70C-2-103 has been paid or incurred.
(c) A delinquency charge may be collected:
(i) at the time it accrues; or
(ii) any time after it accrues.