Section R21-1-7 - Interest and Fees(1) Subsection 63A-3-502(4)(g) authorizes OSDC to assess and collect interest and fees. Interest and fee calculation and payment priority for accounts receivable collected by OSDC shall be applied according to the following methodology, except as specified in Subsections R21-1-10(2) and R21-1-10(3):(2) A fee that covers the administrative costs of collection shall be charged on each account referred for collection. This fee is called the collection fee. (a) The cost of this fee shall be calculated as a percent of the sum of the receivable balance referred for collection plus the late penalty described in Subsection R21-1-7(3).(b) This fee shall be paid first from each payment, up to a percentage determined by OSDC.(c) The collection fee accrues on the unpaid principal balance of the receivable.(3) A late penalty fee as described in Subsection 63A-3-502(4)(g)(ii) shall be calculated as a percent of the receivable balance referred for collection. (a) Two percent of each payment shall be applied to the outstanding penalty until the penalty is paid in full. (b) The calculated penalty amount shall be paid after the collection fee is determined and paid.(4) Two types of interest shall be charged on each account referred to OSDC: postjudgment interest and OSDC interest.(a) Postjudgment interest applies to a receivable with a judgment established by the courts. (i) Postjudgment interest accrues on the unpaid principal balance of the receivable.(ii) Postjudgment interest that accrues on a trust or the trust portion of a receivable shall be paid before the state's outstanding receivable.(b) OSDC interest applies to a receivable without a judgment as described in Subsection 63A-3-502(4)(g)(iii)(B). (i) OSDC accrued interest shall be paid from each payment up to 5% of the payment after the payment of the collection fee and 2% penalty.(ii) OSDC interest accrues on the unpaid principal balance of the receivable.Amended by Utah State Bulletin Number 2019-17, effective 8/7/2019Amended by Utah State Bulletin Number 2021-07, effective 3/25/2021Amended by Utah State Bulletin Number 2024-20, effective 10/10/2024