220 CMR, 52.216
When bonds, securities and other evidences of indebtedness are disposed of for a consideration whose cash value is less than the sum of the par value of the securities or other evidences of indebtedness and the interest thereon accrued at the time the transfer takes place, the excess of such sum of the par value and accrued interest over the cash value of the consideration shall be charged to this account. To this account shall also be charged all expense connected with the issue and sale of evidences of debt, such as fees for drafting mortgages and trust deeds, fees and taxes for recording mortgages and trust deeds, cost of engraving and printing bonds and certificates of indebtedness, fees paid trustees provided for in mortgages and trust deeds, fees and commissions paid under-writers and brokers for marketing such evidences of debt, and other like expense. At or before the close of each fiscal period thereafter a proportion of such discount and expense based upon the life of the security to maturity shall be credited to this account and charged to account No. 578, "Amortization of Discount." Such discount and expense may, if desired, be amortized more rapidly through charges of all or any part of it, either at the time of issue or later, to account No. 416, "Discount on Bonds Extinguished through Surplus."
220 CMR, 52.216