(a) The owner’s registration of a vehicle involved in an accident to which this act applies shall not be transferred nor the vehicle, in respect to which such registration was issued, registered in any other name until the provisions of this act relating to the deposit of security are complied with, unless such provisions are inapplicable because of the exceptions stated in section three or because of other exceptions specified in this act, or until the director is satisfied that such transfer is proposed in good faith and not for the purpose or with the effect of defeating the purposes of this act.

(b) If an owner’s registration has been suspended hereunder, such registration shall not be transferred nor the vehicle, in respect to which such registration was issued, registered in any other name until the director is satisfied that such transfer of registration is proposed in good faith and not for the purpose or with the effect of defeating the purposes of this act.

(c) Nothing in this section shall in anywise affect the rights of any conditional vendor, chattel mortgagee or lessor of such a vehicle registered in the name of another as owner who becomes subject to the provisions of this act.

(d) The director shall suspend the registration of any vehicle transferred in violation of the provisions of this section.

L.1952, c. 173, p. 568, s. 27.