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The 192nd General Court of the Commonwealth of Massachusetts

Section 102: Fees; more than one business; multi-state licensing system

Section 102. Each application for a license shall be accompanied by an investigation fee, the amount of which shall be determined annually by the commissioner of administration under the provision of section three B of chapter seven for the filing thereof. The amount of the fees for all licenses granted under section ninety-six and the relocation investigation fee referred to hereunder shall be determined pursuant to the aforementioned chapter seven provision, and if an applicant desires to carry on business at more than one place he shall procure a license for each place where the business is to be conducted.

Any change of location of an office of a licensee shall require the prior approval of the commissioner. Such request for relocation shall be in writing setting forth the reason or reasons for the request, and shall be accompanied by a relocation investigation fee.

The commissioner may participate in a multi-state licensing system for the sharing of regulatory information and for the licensing and application, by electronic or other means, of entities engaged, directly or indirectly, in the business of making small loans of not more than $6,000. The commissioner may establish requirements for participation by an applicant in a multi-state licensing system which may vary from the provisions of this section and sections 97 and 101. The commissioner may require a background investigation of each applicant for a small loan license by means of fingerprint and state and national criminal history record checks by the department of criminal justice information services pursuant to section 172 of chapter 6 and the Federal Bureau of Investigation. If the applicant is a partnership, association, corporation or other form of business organization, the commissioner may require a background investigation for each member, director and principal officer of the applicant and any individual acting as a manager of an office location. The applicant shall pay directly to the multi-state licensing system any additional fees relating to participation in the multi-state licensing system.