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This opinion was issued in the second quarter of 1998.
Mass. Gen. Laws chapter 167, section 37 prohibits any individual or entity, either conducting a banking business or in the business of receiving money on deposit, from using the word "trust" in its name or title, unless otherwise authorized. It is the Division's opinion that a business trust organized under the law of another state may use the word "trust" in its name for purposes of collecting debts from consumers in the Commonwealth through a third-party, licensed collection agency.