Section 58B.051 - REGISTRATION FOR LENDERS(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.(b) A registration application must include: (2) the lender's address;(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(4) any other information the commissioner requires by rule.(c) Registration issued or renewed expires December 31 of each year. A lender must renew the lender's registration on an annual basis.(d) The commissioner may adopt and enforce: (1) registration procedures for lenders, which may include using the Nationwide Multistate Licensing System and Registry;(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;(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(4) alternate registration procedures and nonrefundable fees for postsecondary education institutions that offer student loans.Added by 2024 Minn. Laws, ch. 121,s 4-2, eff. 8/1/2024.