Massachusetts § 15 Obligation to pay money

Massachusetts Statutes

§ 15 — Obligation to pay money

Massachusetts § 15

Part IIREAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS

Title IIDESCENT AND DISTRIBUTION, WILLS, ESTATES OF DECEASED PERSONS AND ABSENTEES, GUARDIANSHIP, CONSERVATORSHIP AND TRUSTS

Ch. 203DPRINCIPAL AND INCOME

This text of Massachusetts § 15 (Obligation to pay money) 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. 203D, § 15 (2026).

Text

Section 15.

(a)An amount received as interest, whether determined at a fixed, variable or floating rate on an obligation to pay money to the trustee, including an amount received as consideration for prepayment of principal, shall be allocated to income without any provision for amortization of premium.

(b)This section shall not apply to an obligation to which section 18, 19, 20, 21, 23 or 24 applies.

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Section 15. (a) An amount received as interest, whether determined at a fixed, variable or floating rate on an obligation to pay money to the trustee, including an amount received as consideration for prepayment of principal, shall be allocated to income without any provision for amortization of premium.(b) This section shall not apply to an obligation to which section 18, 19, 20, 21, 23 or 24 applies.

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Massachusetts § 15, Counsel Stack Legal Research, https://law.counselstack.com/statute/ma/203D/15.