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Store Research

SB 729 (2007) c. 437

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SB 729, c. 437:  Vehicles; dealers; consumer protection. As of July 1, 2008, creates the Consumer Motor Vehicle Recovery Corporation and the Consumer Recovery Fund, with a board of directors with certain powers and duties, in order to provide payments to consumers on specified eligible claims when a vehicle dealer (1) fails to remit license or registration fees, (2) fails to pay off a trade-in's sale or lease balance owed, or (3) fails to make payment on a consignment sale agreement.  Eligible claims include claims where the dealer/lessor has ceased selling or leasing vehicles or is in bankruptcy.