§ 1 Definitions
§ 2 Student loan servicer license required; exemptions from license requirement; application; automatic federal student loan servicer license; renewal; abandonment of application
§ 3 Surrender of license upon cessation of business
§ 4 Participation in a multistate licensing system; background investigations
§ 5 Additional or changed location of place of business; maintenance of records
§ 6 Compliance with federal laws and regulations
§ 7 Investigations and examinations; confidentiality of records and reports; suspension, revocation or refusal of renewal of license; penalties for violation of chapter
§ 8 Unfair methods of competition or unfair or deceptive acts or practices prohibited
§ 9 Rules and regulations
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Terms Used In Massachusetts General Laws > Chapter 93L - Student Loan Servicers

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fraud: Intentional deception resulting in injury to another.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Other entity: includes a domestic or foreign nonprofit corporation. See Massachusetts General Laws ch. 156D sec. 11.01
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Trustee: A person or institution holding and administering property in trust.