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2020 Regular Session
Overview
At the request of:
Chief Sponsors:
Regular Sponsors:
Bill Title: Relating to student loan servicers; declaring an emergency.
Catchline/Summary: Requires certain persons that service student loans in this state to obtain or renew license.
Specifies license application and renewal procedures, required fees and persons that are exempt from requirement. Prescribes duties of licensee and requires licensee to maintain specified liquidity, operating reserves and tangible net worth. Prescribes civil penalty against person that engages in business as student loan servicer without license. Permits Director of Department of Consumer and Business Services to participate in multistate examinations under specified circumstances. Becomes operative on July 1, 2021. Declares emergency, effective on passage.
Chapter Number:
Fiscal Impact: Budget Report Issued
Revenue Impact: No Revenue Impact
Measure Analysis: Staff Measure Summary / Impact Statements
Current Location: At Senate Desk Upon Adjournment
Current Committee:
Current Subcommittee:
Subsequent Referral(s):
Potential Conflicts of Interest/Vote Explanations: Potential Conflicts of Interest/Vote Explanation Documents
Measure History
Scheduled Events