Fines may be levied on:

(1) Circulating material when:

(a) The library materials are not returned when called in for reserve, or there is a hold or recall and they are or become overdue, such fines are to be calculated from the first day library materials are overdue.

(2) Overdue reserve, reference and other circulating materials from special collections, and equipment, whether or not such material has been requested by another borrower.