New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter III - SUPERINTENDENT'S REGULATIONS
Subchapter B - NON-BANKING ORGANIZATIONS
Part 409 - STUDENT LOAN SERVICERS
Section 409.5 - Continuing duty to update licensing information; changes in officers and directors

Universal Citation: 3 NY Comp Codes Rules and Regs ยง 409.5

Current through Register Vol. 46, No. 12, March 20, 2024

(a) Every student loan servicer required to obtain a license pursuant to section 409.3 of this Part, shall within five days of any change in any of its executive officers, directors, partners or members notify the superintendent of the change by executing an amendment in NMLS which contains the information required to be submitted by the checklist and instructions for such an amendment posted on NMLS.

(b) Every student loan servicer required to obtain a license pursuant to section 409.3 of this Part, shall file with NMLS an amendment as soon as practicable, but in no event more than ten days, after any information contained in the application or the NMLS file, as the case may be, ceases to be true and correct or applicable.

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