Mass. General Laws c.140 § 131B

Penalty for loan of money secured by weapons

This is an unofficial version of a Massachusetts General Law. For more information on this topic, please see law about guns and other weapons.

Updates

Amended by St. 2024, c. 135, § 53, effective October 2, 2024 (Emergency preamble signed by the governor on October 2, 2024)

Section 131B

Whoever loans money secured by mortgage, deposit or pledge of a firearm shall be punished by a fine of not more than five hundred dollars or by imprisonment for not more than one year, or by both; provided, however that nothing herein shall prohibit a bank or other institutional lender from loaning money secured by a mortgage, deposit, or pledge of a firearm to a manufacturer, wholesaler, or dealer of firearms, rifles, or shotguns. The provisions of section one hundred and twenty-three shall not be applicable to any such mortgage, deposit or pledge unless or until the lender takes possession of the collateral upon default or the collateral is removed from the premises of the debtor.

Last updated:	July 25, 2024