2012 Massachusetts General Laws
PART I ADMINISTRATION OF THE GOVERNMENT(Chapters 1 through 182)
TITLE III LAWS RELATING TO STATE OFFICERS
CHAPTER 29 STATE FINANCE
Section 39 Bonds, etc., held by commonwealth; exchanges
Section 39. When the commonwealth holds any bond, note or certificate of indebtedness payable to bearer and issued by a county, city, town or district or any domestic corporation, such county, city, town, district or corporation shall, at the request of the state treasurer, issue in exchange therefor a bond, note or certificate of the same effect, payable to the commonwealth by name. The commonwealth shall pay the expense involved in making such exchange. Any county, city, town, district or corporation neglecting or refusing to comply with this section shall be punished by a fine of not more than fifty dollars.
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