Finance charges on installment sales contract

Notwithstanding the provisions of any other law, a creditor may contract for and receive, pursuant to an installment sales contract, a finance charge at a rate as agreed upon by the creditor and the consumer by written agreement. The finance charge is expressed and compounded in the same manner as an interest rate. Source: SL 1974, ch 305 , § 2; SL 1979, ch 331 ; SL 1980, ch 337 , § 2A; SL 1982, ch 343 , § 1. 54-3A-4. Repealed by SL 1982, ch 343 , § 3.