Massachusetts General Laws Part III. Courts, Judicial Officers and Proceedings in Civil Cases (Ch. 211-262) Ch. 255, § 12C

If any contract for sale of consumer goods on credit entered into in the commonwealth between a retail seller and a retail buyer requires or involves the execution of a promissory note, such note shall have printed on the face thereof the words “consumer note”, and the holder of such a note cannot be a holder in due course thereof within the meaning of Article 3 of chapter 106. For the purposes of this section “consumer goods” means tangible personal property used or bought for use primarily for personal, family or household purposes.

Whoever obtains a note in violation of this section shall be punished by a fine of not less than one hundred nor more than five hundred dollars.

If a note is obtained in violation of this section, no finance, delinquency, collection, repossession or refinancing charges may be recovered in any action or proceeding based on such contract for sale.

The provisions of this section shall not apply to any notes executed in connection with any financing which is insured under Federal Housing Administration regulations.