815 ILCS 137/80.5

Current through Public Act 103-1052

Section 815 ILCS 137/80.5 - Coordination with subsequent late fees

If a payment is otherwise a full payment for the applicable period, is paid on its due date or within an applicable grace period, and the only delinquency or insufficiency of payment is attributable to any late fee or delinquency charge assessed on any earlier payment, no late fee or delinquency charge may be imposed on the payment.

815 ILCS 137/80.5

Added by P.A. 097-0849,§ 15, effective 1/10/2014 (see Section 10 of P.A. 97-1159, 78 Fed. Reg. 6855, 6857, 78 Fed. Reg. 10695, 10696, and 78 Fed. Reg. 44685, 44686).