Background regarding Division of Banks Selected OpinionsThe publication of these Selected Opinions, as well as the previously issued Annual and Quarterly Digests, is part of the Division's ongoing effort to continue to improve its communication with all those who have a vested interest in the financial services industry. Through these Selected Opinions and Digests, the Division offers its perspective on current issues and questions in the financial services industry. As always, requests for opinions from the Division must be addressed directly to the Commissioner of Banks, Massachusetts Division of Banks, 1000 Washington Street, 10th Floor, Boston, MA 02118-6400 and must include a statement of all relevant facts, cites to applicable statutes and regulatory documents and an analysis of those materials supporting your position. The Division acknowledges receipt of opinion requests by assigning each a number. Any subsequent inquiries to the Division about an opinion request should refer to this opinion number.
- Debt Cancellation Coverage or GAP Authorized for Motor Vehicle Sales Pursuant to General Laws Chapter 255B - April 1, 2004
- Whether a document preparation fee is part of the finance charge - August 17, 2004
- Issues Concerning Timing of Notice of Revocation of Cancellation of an Insurance Contract - July 28, 2003
- Requirements applicable to national banks wishing to offer insurance premium financing in Massachusetts - April 16, 2002
- Exemption for Sales Finance Company License for a Loan Broker - February 7, 2002
- Interest Rates Applicable to Consumer Installment Loans - July 6, 2001
- Licensing Requirement For Internet Escrow Company - Q3 2000
- Retail Installment Sales License Requirement - Q2 2000
- Delaware Company Converting From a Corporation To A Limited Liability Company - Q2 2000
- Licensing Requirement For The Service Center Of A Sales Finance Company - Q1 2000
- License Requirement For Company Offering Computer Training Courses - Q2 2000
- Requirements To Originate, Purchase Or Own Automobile Loans Made Directly To Customers - Q4 1999
- Permissibility Of Financing Extended Warranties In Connection With The Indirect Financing Of Motor Vehicles - Q4 1999
- Licensing A Sales Finance Company - Q4 1999
- Permission For A Massachusetts Multi-Licensed Entity To Share Office Space With Its Out-Of-State Chartered Bank - Q3 1999
- Licensing Requirements For Company Wishing To Permit Credit Card Customers To Charge Their Insurance Premiums - Q4 1998
- Licensing Requirements For Insurance Brokers And Agents Participating In A "Point Spread Program" - Q2 1999
- Licensing Of Aerospace Finance Companies - Q3 1998
- Licensing Requirements For Out-Of-State Companies Accepting Unsecured Retail Installment Contracts - Q4 1998
- Originating Loans Secured By First Liens On Residential Manufactured Homes - Q3 1998
- Activities Requiring Licensure As A Sales Finance Company - Q2 1998
- Permissibility Of Cash Prize Program For Auto Dealers Closing Auto Loans Funded By A Bank - Q2 1998
- Financing Of Commercial Insurance Policies - Q2 1998
- Definition Of "Business Day" - Q2 1998
- Purchasing Retail Installment Sales Contracts From Dealers In Farm Equipment - Q2 1998
- Licensing Requirements
- Mortgage Broker Or Lender License Not Required For Mobile Home Loans - Q1 1998
- Form Of Premium Finance Agreement
- Licensing Requirements For The Purchase Of Home Improvement Installment Contracts Secured By A Second Mortgage - Q3 1998
- Motor Vehicle Sales Finance Company Licensing Requirements - Q4 1997
- Licensing For Purchasers Or Assignees Of Retail Installment Sales Agreements Made To Finance Purchases Of Water Equipment - Q4 1997
- Permissibility Of Importing Interest Rates - Q4 1997
- Sales Finance Company Record Retention Requirements - Q3 1997
- License Requirements For Assignees Or Subsequent Purchasers Of Motor Vehicle Retail Installment Contracts - Q3 1997
- License Requirements For Entities Purchasing Insurance Premium Finance Agreements FromLicensed Insurance Premium Finance Agencies - Q3 1997
- Sales Finance Co. License Requirements For Entities Purchasing Retail Installment Agreements From Sales Finance Companies - Q3 1997
Past opinions of the Division of BanksCopies of past opinions may be obtained for a fee from the Division's Consumer Assistance Unit at (617) 956-1502, and must be paid for by check. The Division's Regulations, found in the Code of Massachusetts Regulations (CMR - agency code number 209), are available through the State House Bookstore, State House Room 116, Boston, Massachusetts, 02133. Please contact the bookstore directly for prices at (617) 727-2834.
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