Code of Federal Regulations · Section
§ 401.427 — Charge On Past Due Accounts
46 C.F.R. § 401.427
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A charge of two percent (2%) per month must be paid on the opening monthly balance on accounts remaining unpaid over thirty (30) days after the billing date.
Authorizing Statute
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Superintendence of the merchant marine46 U.S.C. § 2103