Section 32-13-7 - Prepayment and late charges(a)Prepayment privilege. The mortgage shall contain a provision permitting the mortgagor to prepay the mortgage in whole or in part upon any interest payment date after giving to the mortgagee thirty days' notice in writing in advance of its intention to so prepay.(b)Prepayment charge. The mortgage may contain a provision for such additional charge in the event of prepayment of principal as may be agreed upon between the mortgagor and mortgagee. However, the mortgagor shall be permitted to prepay up to fifteen per cent of the original principal amount of the mortgage in any one calendar year without any such additional charge.(c)Late charge. The mortgage may provide for the collection by the mortgagee of a late charge, not to exceed two cents for each dollar of each payment to interest or principal more than fifteen days in arrears, to cover the expense involved in handling delinquent payments. Late charges shall be separately charged to and collected from the mortgagor and shall not be deducted from any aggregate periodic payments.Conn. Agencies Regs. § 32-13-7