Notwithstanding subdivision (b) of Section 28134 and unless prohibited by federal law, a licensee shall retain and maintain its records of servicing a borrower’s student loan for a minimum of three years after the student loan has been sold, assigned, transferred, or paid in full.
Cal. Fin. Code § 28138
Licensee Duties
Known as the Student Loan Servicing Act
The act spans §§ 28100 to 28182 (47 sections).
Added by Stats. 2016, Ch. 824, Sec. 2
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.