Massachusetts General Laws

Mass. Gen. Laws ch. 26, § 1 (2026)

Department of banking and insurance; divisions; commissioners

✓ current as of July 2026

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Section 1. There shall be a department of banking and insurance consisting of a division of banks and loan agencies and a division of insurance. Each division shall be in charge of a commissioner who shall be known, respectively, as the commissioner of banks and the commissioner of insurance. The commissioners shall act as a board in all matters concerning the department as a whole.

Notes of Decisions

Cited in 2 cases, 1971–2004 · 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. 26, §§ 1, 2. At that time, the law of this Commonwealth provided that any person who sought to engage in the business of making small loans had first to obtain a license from the Commissioner.”

Postal Cmty. Credit Union v. Comm'r of Banks, 812 N.E.2d 923 (Mass. App. Ct. 2004). “See G. L. c. 26, § 1. Indeed, the judge recognized the difficulty, stating, “If this Court is reading the situation other than the Legislature intended, then the Legislature, not this Court, must clarify G.”

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