Education Law § 621 · Article 13-B. Student Lending Accountability, Transparency and Enforcement Act
Prohibition of gifts made by lending institutions to covered institutions and their employees
Verbatim from the official edition
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
§ 621. Prohibition of gifts made by lending institutions to covered institutions and their employees. 1. A lending institution may not, directly or indirectly, offer or provide any gift to a covered institution or a covered institution employee, in exchange for any advantage or consideration provided to such lending institution related to its educational loan activities.
2. A lending institution may not engage in revenue sharing with a covered institution.
Source of truth
- Edition
- Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/EDN621
- Text hash
- sha256 b2a801dbfe5254654d450260223ce2ae53a3c219c0d9b087006896c4f1028eb7
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.