California Financial Code

§ 28128

FIN § 28128 Effective Jan 1, 2019Div. 12.5 · Ch. 3

Statute text

(a)A licensee seeking to engage in the business of servicing student loans at a new location shall submit an application for a branch office license to the commissioner at least 10 days before engaging in the business of servicing student loans at a new location and pay the fee required by Section 28112.

(b)The licensee may engage in the business of servicing student loans at the new location 10 days after the date of submission of a branch office application.

(c)(1) The commissioner shall approve or deny the individual responsible for the servicing activity of the licensee at the new location in accordance with Article 2 of Chapter 2 (commencing with Section 28112), and shall notify the licensee of this decision within 90 days of the date of receipt of the application.

…

Legislative history

Amended by Stats. 2018, Ch. 379, Sec. 13. (AB 38) Effective January 1, 2019.