Chapter 90D of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by inserting in Section 15 the following subsections:-
(f) Any lienholder in possession of a motor vehicle title shall provide the title to the purchaser or lessee of the vehicle within 7 days of full payment of the vehicle’s purchase price, lease buyout, or financing agreement.
(g) Failure to comply with this requirement shall result in a penalty of $500 per day of non-compliance, to be assessed by the Registry of Motor Vehicles.
(h) The Registry of Motor Vehicles shall promulgate regulations to ensure compliance with this section.
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