Amended by Stats. 2020, Ch. 154, Sec. 5. (AB 376) Effective January 1, 2021.
A licensee shall do all of the following:
(a)Develop policies and procedures reasonably intended to promote compliance with this division.
(b)File with the commissioner any report required by the commissioner.
(c)Comply with the provisions of this division and any regulation or order of the commissioner.
(d)Submit to periodic examination by the commissioner as required by this division and any regulation or order of the commissioner.
(e)Advise the
commissioner of filing a petition for bankruptcy within five days of the filing.
(f)Provide, free of charge on its internet website information or links to information regarding repayment and loan forgiveness options that may be available to borrowers and provide this information or these links to borrowers via written correspondence or email at least once per calendar year.
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