Section 460.1614. Discounts and late payment charges.

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Where provided in an approved rate schedule, a utility may grant a discount for prompt payment of a bill or may include a late payment charge for failure to make prompt payment. Unless the utility's tariff states otherwise, a late payment charge of not more than 2%, not compounded, may be applied to the unpaid balance outstanding, net of taxes, if the bill is not paid in full on or before the date on which the bill is due.

History: 2008 AACS.

                    
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