Massachusetts § 118 - Service at cost; application to determine status of unfunded debt
Full text of Massachusetts Massachusetts General Laws § 118 — Service at cost; application to determine status of unfunded debt, with citation guidance and answers to common questions.
§ 118. Service at cost; application to determine status of unfunded debt
Section 118. Any company desiring to accept said sections shall, at the time of its application to the department to determine the amount of its stock investment, apply to it to determine the status of its then unfunded debt. The department shall thereupon disallow any amount thereof which it deems was improperly incurred. Interest charges upon the debt so disallowed shall be borne by the company and charged to the amount which would otherwise be available as a return upon the stock investment. Interest charges upon the residue of the unfunded debt shall be included in the cost of service. Interest charges upon the unfunded debt incurred by the company after its acceptance of said sections shall be included in the cost of service unless the department determines any portion of such debt to be unreasonable or improper. Interest charges upon any portion disallowed shall thereafter be deducted from the return upon the stock investment.
Source: official Massachusetts text · Last verified 2026-08-27
Frequently Asked Questions About Massachusetts § 118
What does Massachusetts General Laws § 118 cover?
Section 118 ("Service at cost; application to determine status of unfunded debt") is part of the Massachusetts General Laws, the codified statutory law of Massachusetts. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Massachusetts § 118?
A common citation format is "Massachusetts General Laws § 118" (Massachusetts). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Massachusetts law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Massachusetts official source linked on this page or consult a licensed Massachusetts attorney.
How does Massachusetts § 118 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Massachusetts can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Massachusetts.