SECTION 1. Chapter 140 of the General Laws is hereby amended by adding the following section:-
Section 207. (a) Any person who possesses, carries, or owns a firearm, rifle or shotgun shall obtain and maintain a liability policy, bond, or deposit. This section shall not apply to a person who possesses a firearm, rifle, or shotgun on a temporary basis while on the premises of a licensed gun club. Violation of this section shall result in a punishment of a fine of not less than five hundred and not more than five thousand dollars, or by imprisonment for not more than one year in a house of correction, or both.
(b) The commissioner of insurance shall promulgate regulations set forth for the minimum terms of liability insurance policies which shall satisfy the requirements of this section.
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