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9 sections in this chapter.
Mass. Gen. Laws ch. 93L, § 1 Definitions
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Section 1. As used in this chapter, the following terms shall have the following meanings unless the context clearly requires otherwise: ''Commissioner'', the commissioner of banks. ''Person'', a natural person, corporation or other entity. ''Servicing'', (i) receiving or solicit…
Mass. Gen. Laws ch. 93L, § 2 Student loan servicer license required; exemptions from license requirement; application; automatic federal student loan servicer license; renewal; abandonment of application
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Section 2. (a) A person shall not directly or indirectly act as a student loan servicer without first obtaining a student loan servicer license pursuant to subsection (e) or an automatic federal student loan servicer license pursuant to subsection (f), as applicable, unless the p…
Mass. Gen. Laws ch. 93L, § 3 Surrender of license upon cessation of business
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Section 3. Not later than 15 days after a licensed student loan servicer ceases to engage in the business of student loan servicing for any reason including, but not limited to: (i) a business decision to terminate operations in the commonwealth; (ii) license expiration, revocati…
Mass. Gen. Laws ch. 93L, § 4 Participation in a multistate licensing system; background investigations
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Section 4. The commissioner may participate in a multistate licensing system for the sharing of regulatory information and for the application, by electronic or other means, and licensing of persons engaged in student loan servicing. The commissioner may establish requirements fo…
