[pseudocomposer]

At least for North Carolina, it's wrong/self-inconsistent. The quoted text (and linked NC legislation) says the max is:

> $15 or 5% of rent, whichever is GREATER. 5-day grace period. One-time fee per late payment.

But this site seems to say the legal maximum is whichever is lower (i.e., it won't go above $15).