A private education lender or private education loan collector shall not bring suit or initiate an arbitration or other legal proceeding to collect a private education loan if the applicable statute of limitations for the private education lender’s or private education loan collector’s claim has expired.

(Added by Stats. 2021, Ch. 559, Sec. 1. (AB 424) Effective January 1, 2022. Operative July 1, 2022, pursuant to Section 1788.211.)

Terms Used In California Civil Code 1788.204

  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
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