Code of Massachusetts Regulations
209 CMR - DIVISION OF BANKS AND LOAN AGENCIES
Title 209 CMR 20.00 - Small Loans, Sales Finance Companies And Insurance Premium Finance Companies
Section 20.05 - Books and Records

(1) Each Licensee shall keep and use its books, records, and accounts in a manner which will allow the Commissioner to determine whether the Licensee is complying with the provisions of M.G.L. c. 140, § 96; c. 255B, or c. 255C, or c. 255D and applicable state and federal laws and regulations. Each Licensee shall comply with the provisions of 209 CMR 48.00.

(2) A Licensee shall maintain a complete customer account history including but not limited to terms and conditions of the loan, agreement, payment dates, pay off date, refunds, refinancing date, collection or legal action taken.