California Financial Code

§ 28102

FIN § 28102 Effective Jan 1, 2019Div. 12.5 · Ch. 1 · Art. 2

Statute text

(a)No person shall engage in the business of servicing a student loan in this state without first obtaining a license pursuant to this division. A license shall not be transferable or assignable.

(b)This division shall not apply to any of the following:

(1)A bank, trust company, or industrial loan company doing business under the authority of, or in accordance with, a license, certificate, or charter issued by the United States or any state, district, territory, or commonwealth of the United States that is authorized to transact business in this state.

…

Legislative history

Amended by Stats. 2018, Ch. 379, Sec. 2. (AB 38) Effective January 1, 2019.