A note, instrument, or other evidence of indebtedness relating to payment for an educational program is void and not enforceable unless, at the time of execution of the note, instrument, or other evidence of indebtedness, the institution held an approval to operate or valid out-of-state registration with the bureau.
Cal. Educ. Code § 94917
Consumer Loans to Students
Known as the California Private Postsecondary Education Act
The act spans §§ 94800 to 94950 (183 sections).
Amended by Stats. 2022, Ch. 544, Sec. 11
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.