Begelfer v. Najarian

The Legislature has provided that any person who charges more than twenty per cent a year for interest and expenses on a loan must register with the Attorney General. 3 Any person who obtains a loan in which the interest and expenses exceed twenty per cent a year may request that the loan be declared void by the Superior Court or this court if the lender failed to register with the Attorney General. G. L. c. 271, § 49.

The plaintiffs seek a declaration that a promissory note executed by them is void because the defendants’ exercise of their rights under the default provision caused the…