§ 27-b. Amortization of gains or losses. Gains or losses realized by
the aggregate trust fund as a result of transactions made pursuant to
subdivision two of section twenty-seven-a, or section twenty-seven-c of
this chapter, shall be transferred to a special asset account to be
known as the deferred charge on account of security transactions and
shall be amortized within such account on a basis which matches as
nearly as possible all gains or losses so realized against any increase
or decrease in income resulting from the reinvestment of the proceeds of
such transactions, provided that the period of amortization of the gain
or loss resulting from the disposition of each investment shall not be
longer than the unexpired period from the date of such disposition to
the maturity of the investment so disposed of, or on such other basis as
the superintendent of financial services may authorize in his
discretion.