SECTION 1. Chapter 90 of the General Laws, as appearing in the 2021 Official Edition is hereby amended by inserting after section 62 the following section:-
Section 63 (A). A motor vehicle dealer licensed by the Registry of Motor Vehicles may impose a fee of no more than four hundred dollars ($400.00) for the preparation of various paperwork associated with the sale, financing, leasing, insurance, liens, warranties, federal and state disclosures and other procedures associated with the sale, leasing and financing of vehicles obtained or provided by the dealership on vehicle transactions in excess of two thousand five hundred dollars ($2500.00). Any motor vehicle dealer who charges a documentary preparation fee in connection with the sale of a motor vehicle for less than two thousand five hundred dollars ($2500.00) shall be subject to the imposition of a fine and/or the suspension or revocation of their license, determined by the Registry of Motor Vehicles.
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