Disclosure of over-the-limit fees

The seller or lender shall disclose to the buyer or debtor in the credit card agreement or similar arrangement if over-the-limit fees permitted by law will be charged and collected for exceeding the designated credit limit on a revolving charge account or revolving loan account. Added by Laws 1988, c. 35, § 7, operative July 1, 1988. Amended by Laws 1989, c. 122 § 5, eff. July 1, 1989.