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What is the highest interest a homeowners association can charge for late payments in the state of Georgia?
Wiki User
∙ 8y ago
Your governing documents, specifically your Collections Resolution, states specifically how late payments are penalized.
If no answer is available in your governing documents, you may rely on your state's Usury Laws, if any exist.
Bottom line is this: penalties for late payments must be 'reasonable'.
Wiki User
∙ 8y ago
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