Section 7. No person shall issue, negotiate or sell any bonds, certificates or obligations of any kind, which are by the terms thereof to be redeemed in numerical order or in any arbitrary order of precedence without reference to the amount previously paid thereon by the holder thereof, whether they are sold on the instalment plan or otherwise, nor shall any person redeem any bonds, certificates or obligations in such order, whether they are sold on the instalment plan or otherwise.
Structure Massachusetts General Laws
Part I - Administration of the Government
Title XV - Regulation of Trade
Section 2 - Accounts, Notes, Bonds or Other Instruments Expressed in Other Moneys
Section 4 - Issuance of Registered Bonds
Section 10 - Determination of Damages in Contract Action
Section 13 - Certification of Protest by Notary; Prima Facie Evidence
Section 45a - Use of Facsimile Signatures on Checks Drawn by Treasurers of Public Bodies