Common use of Maximum Penalty Clause in Contracts

Maximum Penalty. A landlord may not assess a penalty for the late payment of rent which exceeds 4% of the amount due for one month. [PL 1987, c. 215 (NEW).]

Maximum Penalty. A landlord may not assess a penalty for the late payment of rent which exceeds 4% of the amount due for one month. [PL 1987, c. 215 (NEW).]