Section 1025 - [Operative 2/15/2025] Supplemental Information - Education FinancingIf the applicant will offer or provide education financing under the registration, the applicant shall as part of the registration application submit directly to the Commissioner at CCFPL.Applications@dfpi.ca.gov the following information:
(a) A description of how the applicant funds the education financing provided to California residents, including identifying any third-party partners that provide funding for the education financing or purchase any interest in the education financing or income streams from the education financing;(b) For applicants that originate education financing for California residents for postsecondary education to be provided by a third party, all contracts in effect between the applicant and those third parties;(c) All agreements in effect between the applicant and third-party servicers of the education financing provided to California residents; and(d) All investor prospectuses or other marketing materials distributed by the applicant during the twelve (12) months preceding submission to prospective purchasers of education financing originated by the applicant and any interest in the income streams from the education financing originated by the applicant.Cal. Code Regs. Tit. 10, § 1025
Note: Authority cited: Sections 90009 and 90010, Financial Code. Reference: Sections 90006, 90009, 90009.5, 90010 and 90018, Financial Code.
1. New section filed 10-11-2024; operative 2/15/2025 (Register 2024, No. 41).