The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 8 V.S.A. § 7008)
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§ 7008. Delinquency and collection charges
(a) An insurance premium finance agreement may provide for the payment by the insured
of a delinquency charge of $1.00 to a maximum of five percent of the amount of the
delinquent installment that is in default for a period of five days or more, whichever
is greater.
(b) An insurance premium finance agreement may provide for payment of reasonable collection
and court costs, and attorney’s fees of not more than 25 percent of the outstanding
indebtedness.
(c) None of the charges referred to in this section shall be considered directly or indirectly
in determining whether a violation of the usury laws has occurred under an insurance
premium finance agreement. (Added 1983, No. 77, § 1.)