Sec. 3. (a) Notwithstanding any other law, the only fee that may be contracted for and received by the lender or an assignee on a small loan is a charge, not to exceed twenty-five dollars ($25), for each: (1) return by a bank or other depository institution of a dishonored: (A) check; (B) electronic funds transfer;
(C) negotiable order of withdrawal; or (D) share draft; issued by the borrower; or (2) time an authorization to debit the borrower's account is dishonored. This additional charge may be assessed one (1) time regardless of how many times a check or an authorization to debit the borrower's account may be submitted by the lender and dishonored. (b) A lender may: (1) present a borrower's check for payment; or (2) exercise a borrower's authorization to debit the borrower's account; not more than three (3) times. [Pre-2026 Revision Citation: 24-4.5-7-202.] As added by P.L.115-2026, SEC.97.