Mass. Gen. Laws » Part I Title II Chapter 26
Massachusetts General Laws

Mass. Gen. Laws ch. 26, § 5A (2026)

Small loans regulatory board

✓ current as of July 2026
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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.

Notes of Decisions
Cited in 1 case, 1979–1979 · leading case: Greenleaf Fin. Co. v. Small Loans Regulatory Bd., 385 N.E.2d 1364 (Mass. 1979).
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Greenleaf Fin. Co. v. Small Loans Regulatory Bd., 385 N.E.2d 1364 (Mass. 1979). “The Small Loans Regulatory Board (Board), consisting of the Board of Bank Incorporation (the Commissioner of Banks, the Commissioner of Revenue, and the State Treasurer 2 ) and two persons appointed by the Governor (see G. L. c. 26, § 5A), is charged by G. L. c.”
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