California Code
Financial Code - FIN
DIVISION 12.5 - Student Loan Servicing Act

CHAPTER 1 - General Provisions

ARTICLE 1 - Short Title

Section 28100. - 28100. This division may be known and cited as the...

ARTICLE 2 - Requirement for License

Section 28102. - 28102. (a) No person shall engage in the business of...

ARTICLE 3 - Definitions

Section 28104. - 28104. For the purposes of this division, the following terms...

CHAPTER 2 - Licensing

ARTICLE 1 - Commissioner of Financial Protection and Innovation

Section 28106. - 28106. (a) The commissioner shall administer the provisions of this...

Section 28108. - 28108. (a) The commissioner shall have the authority to conduct...

Section 28110. - 28110. (a) Notwithstanding any other law, the commissioner may by...

Section 28111. - 28111. (a) The commissioner may require an applicant for a...

ARTICLE 2 - Application for License

Section 28112. - 28112. An applicant shall apply for a license by submitting...

Section 28114. - 28114. (a) The commissioner shall submit to the Department of...

Section 28116. - 28116. (a) Upon the filing of an application for a...

Section 28117. - 28117. (a) Before an applicant is issued a license, the...

Section 28118. - 28118. The commissioner shall, when the application is complete, including...

Section 28120. - 28120. (a) The proceedings for a denial of a license...

Section 28122. - 28122. (a) The commissioner may deem an application for a...

Section 28124. - 28124. A license shall remain effective until the license is...

ARTICLE 3 - Nationwide Multistate Licensing System and Registry

Section 28125. - 28125. (a) The commissioner is authorized to establish relationships or...

Section 28125.1. - 28125.1. (a) Except as otherwise provided in Section 1512 of...

Section 28125.2. - 28125.2. The commissioner shall report regularly violations of this division,...

CHAPTER 3 - Licensee Duties

Section 28126. - 28126. (a) A licensee shall notify the commissioner, in writing,...

Section 28128. - 28128. (a) A licensee seeking to engage in the business...

Section 28130. - 28130. A licensee shall do all of the following: (a)...

Section 28132. - 28132. (a) A licensee shall not be required to comply...

Section 28138. - 28138. Notwithstanding subdivision (b) of Section 28134 and unless prohibited...

Section 28140. - 28140. (a) A licensee shall continuously maintain a minimum net...

Section 28142. - 28142. (a) A licensee shall maintain a surety bond in...

Section 28144. - 28144. (a) Each licensee shall pay to the commissioner its...

Section 28146. - 28146. (a) A licensee shall file an annual report with...

Section 28148. - 28148. (a) At the end of the licensee’s fiscal year,...

Section 28150. - 28150. A licensee that ceases to service student loans to...

CHAPTER 4 - Administration and Power of the Commissioner

Section 28152. - 28152. (a) As often as the commissioner deems necessary and...

Section 28153. - 28153. The commissioner may require persons who are not expressly...

Section 28153.5. - 28153.5. In any proceeding under this division, the burden of...

CHAPTER 5 - Enforcement

Section 28154. - 28154. (a) If a licensee fails to do either of...

Section 28156. - 28156. (a) The commissioner may, after appropriate notice and opportunity...

Section 28158. - 28158. If, after investigation, the commissioner has reasonable grounds to...

Section 28160. - 28160. Whenever, in the opinion of the commissioner, a person...

Section 28162. - 28162. If, after investigation, the commissioner has reasonable grounds to...

Section 28164. - 28164. (a) No order issued pursuant to this chapter may...

Section 28166. - 28166. The commissioner may issue an order suspending or revoking...

Section 28168. - 28168. (a) If, after investigation, the commissioner has reasonable grounds...

Section 28170. - 28170. (a) If, upon inspection, examination or investigation, based upon...

Section 28172. - 28172. (a) Any person who violates a provision of this...

Section 28174. - 28174. (a) The commissioner may refer the evidence that is...

Section 28176. - 28176. All hearings provided for in this division shall be...

CHAPTER 6 - Miscellaneous

Section 28178. - 28178. If any provision of this division or the application...

Section 28180. - 28180. The rights and remedies provided in this division are...

Section 28182. - 28182. This division shall become operative on July 1, 2018....