c. 266, § 85
Collateral security; sale before debt due
Official text prohibited actmental stateif conditionpenaltylegal term
Whoever, holding collateral security deposited with him for the payment of a debt which may be due to him, sells, pledges, lends or in any way disposes of the same before such debt becomes due and payable, without the authority of the depositor thereof, shall be punished by a fine of not more than five hundred dollars or by imprisonment in jail for not more than two years.
Simplified explanation
Selling, pledging or otherwise disposing of collateral security before the debt is due, without the depositor's authority, is punishable by up to 2 years in jail or a $500 fine.