§ 509. Fees and charges
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 17 Pa.C.S.A. Credit UnionsEffective: August 18, 2014
Effective: August 18, 2014
17 Pa.C.S.A. § 509
§ 509. Fees and charges
(b) Fees in connection with loans.--A credit union may collect fees paid to public officials, actual fees necessary to secure collateral, fees required to be charged by government agencies and reasonable attorney fees. Furthermore, in connection with real estate loans, a credit union may collect charges and fees necessary to sell the loans to any agency or instrumentality of the Federal Government or a corporation which engages in the business of purchasing mortgage loans.
(c) Fees in connection with collectors or outside collection agencies.--A credit union may collect fees paid to outside collectors or outside collection agencies, provided the aggregate of such collection fees does not exceed 20% of the outstanding loan balance or other share or loan service related amounts owed to the credit union.
Credits
1990, Dec. 19, P.L. 834, No. 198, § 302, effective in two months. Amended 2014, June 18, P.L. 754, No. 62, § 2, effective in 60 days [Aug. 18, 2014].
17 Pa.C.S.A. § 509, PA ST 17 Pa.C.S.A. § 509
Current through the end of the 2023 Regular Session. Some statute sections may be more current, see credits for details.
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