Date of enactment: May 25, 2006
2005 Assembly Bill 1065 Date of publication*: June 9, 2006
* Section 991.11, Wisconsin Statutes 2003-04 : Effective date of acts. "Every act and every portion of an act enacted by the legislature over the governor's partial veto which does not expressly prescribe the time when it takes effect shall take effect on the day after its date of publication as designated" by the secretary of state [the date of publication may not be more than 10 working days after the date of enactment].
An Act to create 704.90 (4b) of the statutes; relating to: self-service storage late fees.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
461,1 Section 1. 704.90 (4b) of the statutes is created to read:
704.90 (4b) Late fee. (a) The operator may charge a reasonable late fee for each month a lessee does not pay rent by 5 weekdays after the rent is due if the amount of the late fee is contained in the rental agreement.
(b) A late fee of $20 or 20 percent of the monthly rental amount, whichever is greater, is presumed reasonable. An operator may charge a higher late fee but has the burden of proof that the higher late fee is reasonable.