Section 6345 - Finance charges(a) General rule.--Pursuant to this section and the provisions of a closed-end credit agreement or an open-end credit agreement, a seller and holder may charge, receive and collect a finance charge.(b) Closed-end credit agreement.--A finance charge under a closed-end credit agreement shall be: (1) measured for a period between the date of the agreement and the due date of the last installment; and(2) calculated for the period according to the actuarial method or the United States Rule method, at a rate agreed to by the buyer and the seller or holder.(c)Open-end credit agreement.-- (1) Except as provided in paragraph (2), a finance charge on an open-end credit agreement: (i) shall be computed based on the outstanding monthly balances; and(ii) may not exceed the rate agreed to by the buyer and the seller or holder.(2) A minimum finance charge of $1 per month may be made for each month, if the finance charge so computed is less than that amount.Added by P.L. 1081 2013 No. 98, § 4, eff. 11/27/2014.