| Date: | 08/01/1998 |
|---|---|
| Organization: | Division of Banks |
| Docket Number: | 98-146 |
This opinion was issued in the third quarter of 1998.
- This page, Summary of Selected Opinion 98-146, is offered by
- Division of Banks
Opinion
Opinion Summary of Selected Opinion 98-146
Table of Contents
Licensing requirements for attorneys licensed to practice law in the Commonwealth
Mass. Gen. Laws chapter 93, section 24 prohibits any person from conducting the business of a collection agency without first obtaining a license from the Commissioner of Banks. This statute specifically exempts attorneys authorized to practice law in the Commonwealth from the licensing requirement. It is the position of the Division that attorneys licensed to practice law in another state may engage in collection activities in the Commonwealth by establishing business relationships with attorneys licensed to practice in the Commonwealth and by having such attorneys conduct the collection activities under their own letterhead. Attorneys licensed to practice law in the Commonwealth are subject to the debt collection regulations promulgated by the Office of the Attorney General and codified at 940 CMR 7.00.