# Mass. Gen. Laws ch. 26, sec. 5A: Small loans regulatory board

> Massachusetts · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S5A

## Section

- **Citation:** Mass. Gen. Laws ch. 26, sec. 5A
- **Heading:** Small loans regulatory board
- **Jurisdiction:** Massachusetts
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** MA Code / Part I / Title II / Chapter 26 / Section 5A

## Text

Section 5A. There shall be in the division but not subject to its control a board to be known as the small loans regulatory board, hereinafter called the board, to consist of the board of bank incorporation and two persons to be appointed by the governor with the advice and consent of the council, one of whom shall be a representative of organized labor. The terms of said two appointees of the governor shall run concurrently with the term of the governor. Members of the board, except elective or appointive officials of the state, shall be paid thirty-one dollars and seventy-five cents and expenses for each day spent in the performance of their duties, which, in the first instance, shall be paid by the commonwealth, but which shall be assessed against and collected from licensees under sections ninety-six to one hundred and thirteen, inclusive, of chapter one hundred and forty in proportion to the amount of loans coming within the purview of said sections which are shown as accounts receivable in the latest annual report filed with the commissioner by such licensees.

Section 5A. There shall be in the division but not subject to its control a board to be known as the small loans regulatory board, hereinafter called the board, to consist of the board of bank incorporation and two persons to be appointed by the governor with the advice and consent of the council, one of whom shall be a representative of organized labor. The terms of said two appointees of the governor shall run concurrently with the term of the governor. Members of the board, except elective or appointive officials of the state, shall be paid thirty-one dollars and seventy-five cents and expenses for each day spent in the performance of their duties, which, in the first instance, shall be paid by the commonwealth, but which shall be assessed against and collected from licensees under sections ninety-six to one hundred and thirteen, inclusive, of chapter one hundred and forty in proportion to the amount of loans coming within the purview of said sections which are shown as accounts receivable in the latest annual report filed with the commissioner by such licensees.

## Nearby sections

- [Mass. Gen. Laws ch. 26, sec. 1 Department of banking and insurance; divisions; commissioners](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S1.md)
- [Mass. Gen. Laws ch. 26, sec. 2 Commissioner of banks](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S2.md)
- [Mass. Gen. Laws ch. 26, sec. 3 Deputy commissioner of banks; deputy commissioner and general counsel; assistants; expenses; bonds](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S3.md)
- [Mass. Gen. Laws ch. 26, sec. 3A Consumer assistance unit](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S3A.md)
- [Mass. Gen. Laws ch. 26, sec. 4 Supervisor of loan agencies](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S4.md)
- [Mass. Gen. Laws ch. 26, sec. 5 Board of bank incorporation](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S5.md)
- [Mass. Gen. Laws ch. 26, sec. 5A Small loans regulatory board](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S5A.md)
- [Mass. Gen. Laws ch. 26, sec. 6 Commissioner of insurance](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S6.md)
- [Mass. Gen. Laws ch. 26, sec. 7 Deputies and assistants in division of insurance; appointments; duties; hearings; appeals to commissioner](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S7.md)
- [Mass. Gen. Laws ch. 26, sec. 7A Health care access bureau; duties; employees; assessment against carriers](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S7A.md)
- [Mass. Gen. Laws ch. 26, sec. 7B Interdepartmental service agreement with department of revenue; limitations on transfer of personal information; impact of violations upon licensing of entities to provide health coverage](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S7B.md)
- [Mass. Gen. Laws ch. 26, sec. 8A Board of appeal on motor vehicle liability policies and bonds](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S8A.md)
- [Mass. Gen. Laws ch. 26, sec. 8B Fraudulent claims board; establishment; membership; investigative powers; accident reports; chief of accident claims investigations; apportionment of costs; penalty](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S8B.md)
- [Mass. Gen. Laws ch. 26, sec. 8C Assessments against licensed insurers](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S8C.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TII_C26_S5A. Check the current official text before relying on it. Not legal advice.