Mass. Gen. Laws » Part I Title XX Chapter 140
Massachusetts General Laws

Mass. Gen. Laws ch. 140, § 98 (2026)

Annual report; failure to file, amend; fine

✓ current as of July 2026
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Section 98. Each person required by sections ninety-six to one hundred and fourteen, inclusive, to be under the supervision of the commissioner shall annually, on or before a date to be determined by the commissioner, file a report with said commissioner containing such information as said commissioner may require concerning the business and operations during the preceding calendar year at each licensed place of business conducted by a licensee within the commonwealth. Any person neglecting to file such report or failing to amend such report within fifteen days after notice from said commissioner directing the same shall, unless such neglect or failure is due to justifiable cause and not due to wilful neglect, pay to the commonwealth fifty dollars for each day during which such neglect or failure continues.

Notes of Decisions
Cited in 2 cases, 1971–1979 · leading case: Commonwealth v. Beneficial Fin. Co., 275 N.E.2d 33 (Mass. 1971).
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Commonwealth v. Beneficial Fin. Co., 275 N.E.2d 33 (Mass. 1971). “” G. L. c. 140, § 98. In order to assist him in carrying out these statutory functions, the Commissioner of Banks also has the power to appoint a deputy as supervisor of loan agencies.”
Greenleaf Fin. Co. v. Small Loans Regulatory Bd., 385 N.E.2d 1364 (Mass. 1979). “6 Among the data relied on was Public Document 95 (Exhibit 79) containing detailed financial statements for the year 1975 submitted by the licensed small loan companies respectively to the Division of Banks and Loan Agencies (see G. L. c. 140, § 98). Composite figures were…”
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