Chapter 140 of the General Laws is hereby amended by adding the following section:-
Section 207. (a) Whoever possess, carries or owns a firearm, rifle or shotgun without a liability policy or bond or deposit required by the provisions of this chapter, which has not been provided and maintained in accordance therewith, shall be punished by a fine of not less than 500 nor more than 5,000 dollars or by imprisonment for not more than one year in a house of correction, or both such fine and imprisonment. 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.
(b) The commissioner of insurance shall promulgate regulations setting forth the minimum terms of liability insurance policies which shall satisfy the requirements of this section.
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