California Statutes
§ 28150. — 28150. (Added by Stats. 2016, Ch. 824, Sec. 2.)
California § 28150.
JurisdictionCalifornia
Code FINFinancial Code - FIN
Div. 12.5.DIVISION 12.5. Student Loan Servicing Act
Ch. 3.CHAPTER 3. Licensee Duties
This text of California § 28150. (28150. (Added by Stats. 2016, Ch. 824, Sec. 2.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Cal. Financial Code - FIN Code § 28150. (2026).
Text
A licensee that ceases to service student loans to borrowers shall inform the commissioner in writing and surrender the license and all other indicia of license to the commissioner. The commissioner may require a licensee to file a plan for the disposition of the servicing business that includes, but is not limited to, a closing audit. Upon receipt of the written notice and plan, if required, the commissioner shall determine
whether the licensee has violated this division. The commissioner shall give a licensee notice of accepting a surrendered license, and a license shall not be deemed surrendered until the commissioner accepts its tender in writing.
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Legislative History
Added by Stats. 2016, Ch. 824, Sec. 2. (AB 2251) Effective January 1, 2017. Operative July 1, 2018, pursuant to Section 28182.
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Bluebook (online)
California § 28150., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/FIN/28150..