BlackletterCalifornia law

Financial Code § 28138

CHAPTER 3. Licensee Duties

Current as of September 28, 2026Fin. Code, § 28138Official source ↗

Added by Stats. 2016, Ch. 824, Sec. 2. (AB 2251) Effective January 1, 2017. Operative July 1, 2018, pursuant to Section 28182.

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.