Pennsylvania § 8146 - Obligation to pay money.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 8146 — Obligation to pay money., with citation guidance and answers to common questions.
§ 8146. Obligation to pay money.
(a) Interest allocated to income.--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 prepaying principal, shall be allocated to income without any provision for amortization of premium.
(b) Allocation of obligations.--A trustee shall allocate to principal an amount received from the sale, redemption or other disposition of an obligation to pay money to the trustee more than one year after it is purchased or acquired by the trustee, including an obligation the purchase price or value of which when it is acquired is less than its value at maturity. If the obligation matures within one year after it is purchased or acquired by the trustee, an amount received in excess of its purchase price or its value when acquired by the trust shall be allocated to income.
(c) Application.--This section does not apply to an obligation to which any of the following apply:
(1) Section 8149 (relating to retirement benefits, individual retirement accounts, deferred compensation, annuities and similar payments).
(2) Section 8150 (relating to liquidating asset).
(3) Section 8151 (relating to minerals, water and other natural resources).
(4) Section 8152 (relating to timber).
(5) Section 8154 (relating to derivatives and options).
(6) Section 8155 (relating to asset-backed securities).
Source: official Pennsylvania text · Last verified 2026-08-27
Frequently Asked Questions About Pennsylvania § 8146
What does Pennsylvania Consolidated Statutes § 8146 cover?
Section 8146 ("Obligation to pay money.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. 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 Pennsylvania § 8146?
A common citation format is "Pennsylvania Consolidated Statutes § 8146" (Pennsylvania). 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 Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 8146 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania 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 Pennsylvania.