Can BOard approva Late Charges in SC

Any Assessment not paid within thirty days after the due date thereof shall bear interest from the due date at the legal rate of insterest provied by the statute laws of the state of south carolina on judgements.

We had a HOA company handling our stuff the past 3 years and just took it back. They charged late charges, interst, collection fees. lien fees...a lot of fees.

Can the board decide to chnang it from the interest rate to a flat amount to make it easier? What is the best why to handle this in south carolina? In help would be great.

In our term of covenants section is has These Covenants and restrictions, as altered, annulled and amended from time to time as provided for herein, shall remain in force till March 2018.
Back several years ago they voted to change the dues from 100 to 150 a month, it was never changed in the records of the state just in the neighborhood when we invoice. I can't even find anything that shows 2/3 of voting approval for changes to anything but I know the neighborhood has operated that way.

I know when the HOA management company ran they had set amounts for what they charged and that is not in our covenants/bi-laws either.

Say they owe $1000 and the maximum interest rate is 5%. And your HOA decided to charge $500 flat rate fee. The court will likely say that is an illegal interest rate and only award you $50. So you need to break it down.