Massachusetts § 131B Penalty for loan of money secured by weapons

Massachusetts Statutes

§ 131B — Penalty for loan of money secured by weapons

Massachusetts § 131B

Part IADMINISTRATION OF THE GOVERNMENT

Title XXPUBLIC SAFETY AND GOOD ORDER

Ch. 140LICENSES

This text of Massachusetts § 131B (Penalty for loan of money secured by weapons) is published on Counsel Stack Legal Research, covering Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mass. Gen. Laws ch. 140, § 131B (2026).

Text

[ Text of section effective until October 2, 2024.  For text effective October 2, 2024, see below.]Section 131B. Whoever loans money secured by mortgage, deposit or pledge of a firearm, rifle, shotgun or machine gun shall be punished by a fine of not more than five hundred dollars or by imprisonment for not more than one year, or by both;  provided, however that nothing herein shall prohibit a bank or other institutional lender from loaning money secured by a mortgage, deposit, or pledge of a firearm, rifle, shotgun or machine gun to a manufacturer, wholesaler, or dealer of firearms, rifles, or shotguns.  The provisions of section one hundred and twenty-three shall not be applicable to any such mortgage, deposit or pledge unless or until the lender takes possession of the collateral upon d

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[ Text of section effective until October 2, 2024. For text effective October 2, 2024, see below.]Section 131B. Whoever loans money secured by mortgage, deposit or pledge of a firearm, rifle, shotgun or machine gun shall be punished by a fine of not more than five hundred dollars or by imprisonment for not more than one year, or by both; provided, however that nothing herein shall prohibit a bank or other institutional lender from loaning money secured by a mortgage, deposit, or pledge of a firearm, rifle, shotgun or machine gun to a manufacturer, wholesaler, or dealer of firearms, rifles, or shotguns. The provisions of section one hundred and twenty-three shall not be applicable to any such mortgage, deposit or pledge unless or until the lender takes possession of the collateral upon default or the collateral is removed from the premises of the debtor.Chapter 140: Section 131B. Penalty for loan of money secured by weapons[ Text of section as amended by 2024, 135, Sec. 53 effective October 2, 2024. For text effective until October 2, 2024, see above.]Section 131B. Whoever loans money secured by mortgage, deposit or pledge of a firearm shall be punished by a fine of not more than five hundred dollars or by imprisonment for not more than one year, or by both; provided, however that nothing herein shall prohibit a bank or other institutional lender from loaning money secured by a mortgage, deposit, or pledge of a firearm to a manufacturer, wholesaler, or dealer of firearms, rifles, or shotguns. The provisions of section one hundred and twenty-three shall not be applicable to any such mortgage, deposit or pledge unless or until the lender takes possession of the collateral upon default or the collateral is removed from the premises of the debtor.