Charges for other credit transactions.

1. With respect to a credit transaction other than a consumer credit transaction, the parties may contract for the payment by the debtor of any finance or other charge as permitted by law. 2. With respect to a credit transaction which would be a consumer credit transaction if a finance charge were made, a charge for delinquency may not exceed amounts allowed for finance charges for consumer credit sales pursuant to open-end credit. [C75, 77, 79, 81, §537.2601 ] 2003 Acts, 1st Ex, ch 1, §126, 133 [ 2003 Acts, 1st Ex, ch 1, §126, 133 , amendment to subsection 1 rescinded pursuant to Rants v. Vilsack , 684 N.W.2d 193] 2004 Acts, 1st Ex, ch 1001, §22, 23 ; 2018 Acts, ch 1041, §127 Referred to in §537.5201