Study in tandem along with other relevant conditions, plus in the light of relevant concepts of statutory construction,54 the indications are that the $15 NSF charge given to had been meant to function as the exclusive penalty available for standard on a check loan, though inartfully drafted.
ICCC and UCC provisions regarding NSF charges: As noted in Section II, above, pay day loans for customer purposes are susceptible to the ICCC except to your level particularly displaced by the conditions of Chapter 533D, like the maximum finance cost conditions. The ICCC forbids the imposition of “any fees in reference to default” except along with
May 1, 1995, the legislature enacted 95 functions, ch. 137. Area 2 of this Act amended Article 3 associated with the Uniform Commercial Code (Chapter 554), the basic legislation regulating checks, to allow NSF surcharges of $20 – $50 in some circumstances. 61 part 3 of 95 functions, ch. 137 also amended Article 3 of this UCC, to authorize a rigid treble damages civil fix for dishonor. 62 but, Section 1 of 95 functions, ch. 137 suggests that the legislature would not genuinely believe that Sections 2 and parts 3 would apply as a basic matter to ICCC transactions. 63 (in reality, Informal Advisories using this workplace interpreting the predecessor UCC legislation authorizing NSF charges had interpreted it