§ 702. Prohibitions. A student debt consultant is prohibited from doing the following: (a) performing student debt consulting services without a legal written, fully-executed contract with a borrower that comports with the provisions of this article; (b) charging for or accepting any payment for student debt consulting services before the full completion of all such […]
§ 703. Disclosure requirements. (a) A student debt consultant shall clearly and conspicuously disclose in all advertisements: (1) the actual services the consultant provides to borrowers; (2) that borrowers may apply for consolidation loans from the United States department of education at no cost, including providing a direct link in all online advertising and contact […]
§ 704. Student debt consulting contracts. (a) A student debt consulting contract shall: (1) contain the entire agreement of the parties; (2) be provided in writing to the borrower for review before signing; (3) be printed in at least twelve-point type and written in the same language that is used by the borrower and was […]
§ 705. Penalties and other provisions. (a) If the superintendent finds, after notice and hearing, that a consultant has knowingly violated any provision of this article and the violation was material, the superintendent may: (1) make null and void any agreement between the borrower and the consultant; and (2) impose a civil penalty of not […]
§ 706. Rules and regulations. In addition to such powers as may otherwise be prescribed by this chapter, the superintendent is hereby authorized and empowered to promulgate such rules and regulations as may in the judgment of the superintendent be consistent with the purposes of this article, or appropriate for the effective administration of this […]
