On open-end loans, the licensee may contract for and receive the fees, costs, and expenses permitted on other loans, including those permitted by subsection (a) paragraphs (1), (2), (3), and (4) of section 848 and subsection (d) of section 849, except that the charge for credit insurance under section 849 must be on a monthly basis and must be actuarially consistent with the premium rate for the same coverage.
This section does not apply to any open-end loan of a bona fide principal amount of $5,000 or more as determined in accordance with section 906.