By Mr. Coughlin of Dedham, petition (accompanied by bill, House, No. 1375) of Robert K. Coughlin for legislation to alleviate an existing inconsistency in the application of interest payments under the abandoned property law.  The Judiciary.

The Commonwealth of Massachusetts

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PETITION OF:

Robert K. Coughlin

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In the Year Two Thousand and Seven.

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An Act to alleviate an existing inconsistency in the application of interest payments.

    Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1. Section 10 (e) of chapter 200A of the general laws as appearing in the 2000 Official Edition is hereby amended by inserting after the words “per month” in line 29 the following:— or one half of the rate paid on interest bearing property, whichever is the lesser rate,.