§ 5-21-108. Powers and Duties of the Administrator – Rules
[ Editor’s note: This section is effective January 1, 2022.] The administrator may conduct investigations and examinations as follows: For purposes of general or specific inquiry or investigation to determine compliance with this article 21, the administrator may access, receive, and use any records or information belonging to a notifier or person subject to this […]
§ 5-21-109. Application of Administrative Procedures
[ Editor’s note: This section is effective January 1, 2022. ] Except as otherwise provided in this article 21, sections 24-4-102 to 24-4-106 apply to and govern all rules promulgated and all administrative action taken by the administrator pursuant to this article 21; except that section 24-4-104 (3) does not apply to any such action. […]
§ 5-21-110. Administrative Enforcement Orders
[ Editor’s note: This section is effective January 1, 2022.] After notice and hearing, the administrator may order a mortgage servicer or a person acting in the mortgage servicer’s behalf to cease and desist from engaging in violations of this article 21 or any rule or order lawfully made pursuant to this article 21. The […]
§ 5-21-111. Assurance of Discontinuance
[ Editor’s note: This section is effective January 1, 2022. ] If it is claimed that a person has violated this article 21, the administrator may accept an assurance in writing that the person will not engage in the conduct in the future. The assurance may also require the person to make refunds to individuals […]
§ 5-20-210. Prohibited Conduct
A private education lender shall not: Offer any private education loan that is not in conformity with this part 2 or rules or orders of the administrator under this part 2 or that violates any other state or federal law; Engage in any unfair, deceptive, or abusive act or practice; Take an assignment of earnings […]
§ 5-20-211. Record Retention – Confidentiality
A private education lender shall establish and maintain records and permit the administrator to access and copy any records or records systems required to be maintained pursuant to this part 2 or rules of the administrator adopted to implement this part 2. The lender shall retain loan files, including any records specified for retention under […]
§ 5-20-212. Collection on Debt – Prerequisites – Documentation
Unless the private education loan borrower has invoked his or her right to cease communication with the collection agency, a collection agency attempting to collect a private education loan shall provide the following information, in addition to any other information required under applicable federal or state law, to the private education loan borrower in the […]
§ 5-20-116. Injunctions
The administrator may bring a civil action to restrain a person from violating this part 1 or rules promulgated pursuant to this part 1 and for other appropriate relief, including such orders or judgments as may be necessary to completely compensate or restore any person affected by the violation to the person’s original position. The […]
§ 5-20-213. Actions – Counterclaims
For litigation proceedings commenced on or after June 29, 2021, a court shall not enter a judgment on a private education loan obligation if the collection agency does not comply with the requirements of section 5-20-212. For litigation proceedings commenced before June 29, 2021, the court shall not enter a judgment until the collection agency […]
§ 5-20-117. Civil Actions by the Administrator
The administrator may bring a civil action against a student loan servicer for any violation of this part 1. An action may relate to transactions with more than one person. The court may order a student loan servicer to refund to a person any charges collected in violation of this part 1 and may also […]