Current through Register Vol. 54, No. 36, September 7, 2024
Section 63.4 - Limitation on charges(a) Charges on a loan shall not be allowed to accrue after the expiration of a 12-month period from the due date of such a loan, for the purposes of renewal or redemption of the pledge after the expiration of the 12-month period.(b) When a pledge is sold for default after the expiration of 6 months from the due date, charges shall be limited to the amount of charges accrued within such 6-month period after the due date for the purpose of computing surplus due the pledgor.