A person licensed to act as a student loan servicer in this state is prohibited from servicing student loans under any other name or at any other place of business than that named in the license. Any time a student loan servicer changes the location of the servicer's place of business, the servicer must provide prior written notice to the commissioner. A student loan servicer may not maintain more than one place of business under the same license. The commissioner may issue more than one license to the same student loan servicer, provided that the servicer complies with the application procedures in section 58B.03 for each license.
1Sp2021 c 4 art 6 s 5
Structure Minnesota Statutes
Chapter 58B — Student Loan Borrower Bill Of Rights
Section 58B.03 — Licensing Of Student Loan Servicers.
Section 58B.04 — Licensing Multiple Places Of Business.
Section 58B.05 — License Renewal.
Section 58B.06 — Duties Of Student Loan Servicers.
Section 58B.07 — Prohibited Conduct.
Section 58B.08 — Examinations.
Section 58B.09 — Denial; Suspension; Revocation Of Licenses.