58B.04 LICENSING MULTIPLE PLACES OF BUSINESS.
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/mn/chapter-58/58b-04A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
58B.04 LICENSING MULTIPLE PLACES OF BUSINESS.
A person licensed to act as a student loan servicer in this state is prohibited from servicing student loans under any other name or at any other place of business than that named in the license. Any time a student loan servicer changes the location of the servicer's place of business, the servicer must provide prior written notice to the commissioner. A student loan servicer may not maintain more than one place of business under the same license. The commissioner may issue more than one license to the same student loan servicer, provided that the servicer complies with the application procedures in section 58B.03 for each license.