{"data":{"id":"us-mn/minn.-stat.-58b.051","jurisdiction":"us-mn","citation":"Minn. Stat. § 58B.051","heading":"REGISTRATION FOR LENDERS.","body":"(a) Beginning January 1, 2025, a lender must register with the commissioner as a lender before providing services in Minnesota. A lender must not offer or make a student loan to a resident of Minnesota without first registering with the commissioner as provided in this section.\n(b) A registration application must include:\n(1) the lender's name;\n(2) the lender's address;\n(3) the names of all officers, directors, owners, or other persons in control of an applicant, as defined in section 58B.02, subdivision 6; and\n(4) any other information the commissioner requires by rule.\n(c) Registration issued or renewed expires December 31 of each year. A lender must renew the lender's registration on an annual basis.\n(d) The commissioner may adopt and enforce:\n(1) registration procedures for lenders, which may include using the Nationwide Multistate Licensing System and Registry;\n(2) nonrefundable registration fees for lenders, which may include fees for using the Nationwide Multistate Licensing System and Registry, to be paid directly by the lender;\n(3) procedures and nonrefundable fees to renew a lender's registration, which may include fees for the renewed use of Nationwide Multistate Licensing System and Registry, to be paid directly by the lender; and\n(4) alternate registration procedures and nonrefundable fees for postsecondary education institutions that offer student loans.","path":["BANKING","CHAPTER 58B. STUDENT LOAN BORROWER BILL OF RIGHTS"],"source_url":"https://www.revisor.mn.gov/statutes/cite/58B.051","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:28Z","sha256":"d299180e982c532c25a496f72a8ec28d332cabc0c1415e21387938329e3363e4","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-58b.05","next":"us-mn/minn.-stat.-58b.06"},"notice":"GroundRules: Original legal text. Not legal advice."}