Massachusetts § 15A - Issue or sale of bonds, etc. at less than par value or face amount
Full text of Massachusetts Massachusetts General Laws § 15A — Issue or sale of bonds, etc. at less than par value or face amount, with citation guidance and answers to common questions.
§ 15A. Issue or sale of bonds, etc. at less than par value or face amount
Section 15A. Except as otherwise provided in this section, a gas or electric company shall not issue or sell any bonds, debentures, notes or other evidences of indebtedness payable at periods of more than one year after the date thereof at less than the par value or face amount thereof. If the department finds than any such issue or sale below such par value or face amount is in the public interest, it may, notwithstanding the provisions of this or any other section, authorize the issue or sale of such bonds, debentures, notes or other evidences of indebtedness at less than the par value or face amount thereof and with such requirements for the amortization of the discount as it may deem necessary in the public interest. Its determination shall be made part of the vote of the department as provided in section fourteen and shall be certified and recorded as therein prescribed.
Source: official Massachusetts text · Last verified 2026-08-27
Frequently Asked Questions About Massachusetts § 15A
What does Massachusetts General Laws § 15A cover?
Section 15A ("Issue or sale of bonds, etc. at less than par value or face amount") 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 § 15A?
A common citation format is "Massachusetts General Laws § 15A" (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 § 15A 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.