Kentucky Statutes 286.12-050 – Records of student education loan servicer
Current as of: 2024 | Check for updates
|
Other versions
Each student education loan servicer shall:
(1) Keep all records for a minimum of three (3) years after satisfaction of a loan; and
(2) Use in its business such books, accounts, correspondence with borrowers, and records as will enable the commissioner to determine whether the servicer is complying with the provisions of this subtitle and administrative regulations or orders promulgated pursuant to this subtitle.
Effective: July 14, 2022
History: Created 2022 Ky. Acts ch. 88, sec. 6, effective July 14, 2022.
(1) Keep all records for a minimum of three (3) years after satisfaction of a loan; and
Terms Used In Kentucky Statutes 286.12-050
- Commissioner: means the commissioner of the Department of Financial
Institutions. See Kentucky Statutes 286.1-010 - Student education loan: means any loan to a borrower to finance postsecondary education or expenses related to postsecondary education. See Kentucky Statutes 286.12-010
(2) Use in its business such books, accounts, correspondence with borrowers, and records as will enable the commissioner to determine whether the servicer is complying with the provisions of this subtitle and administrative regulations or orders promulgated pursuant to this subtitle.
Effective: July 14, 2022
History: Created 2022 Ky. Acts ch. 88, sec. 6, effective July 14, 2022.