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604 - Penalties

 

I.          OBJECTIVE

To establish a policy for the assessment of penalties on all outstanding energy bills due to the Cooperative.

II.         CONTENT

A.The late payment charge shall apply if the balance due is $25.00 or larger and payment of the current month bill is not received in the office on or before the delinquent date.  In the event the normal delinquent date falls on a Saturday, Sunday or legal holiday, the delinquent date shall become the following working day.  The late payment charge shall be the larger of $5.00 or 1½% of the outstanding balance of each account not paid by the due date.  Also see the Cooperative’s policy on Consumer Billing.

 

B.A member-consumer's check or ACH transaction that has been returned by the bank for any reason and not corrected before the delinquent date shall be charged the applicable late payment penalty.

III.       RESPONSIBILITY

The General Manager is responsible for administering this policy and for recommending to the Board any changes deemed necessary.

EFFECTIVE DATE:   November 1, 2002

DATE ADOPTED:     March 28, 2000

DATE REVISED:       September 25, 2002

DATE REVIEWED:   November 19, 2008

DATE REVIEWED:   November 21, 2012

DATE REVIEWED:   December 18, 2014

ATTESTED:   __________________________________

Chris Hofer, Secretary