500.130 Peer-to-peer car sharing program; shared vehicle; insured interest.
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/mi/chapter-500/500-130A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
500.130 Peer-to-peer car sharing program; shared vehicle; insured interest.
Sec. 130.
(1)A peer-to-peer car sharing program has an insurable interest in a shared vehicle during the car sharing period.
(2)A peer–to–peer car sharing program may own and maintain as the named insured 1 or more policies of automobile insurance that provide coverage for any of the following:
(a)Liabilities assumed by the peer–to–peer car sharing program under a car sharing program agreement.
(b)Any liability of the shared vehicle owner.
(c)Damage or loss to the shared vehicle.
(d)Any liability of the shared vehicle driver.
(3)A peer-to-peer car sharing program shall not do any of the following:
(a)Unless authorized, offer or sell insurance, except travel or auto-related insurance offered or sold in connection with and incidental to the sharing of a motor vehicle under a car sharing program agreement.
(b)Make a car sharing program agreement contingent on the shared vehicle driver purchasing residual third-party liability insurance through the peer-to-peer car sharing program.
(4)As used in this section, "car sharing period", "car sharing program agreement", "peer-to-peer car sharing program", "shared vehicle", "shared vehicle driver", and "shared vehicle owner" mean those terms as defined in section 3 of the peer-to-peer car sharing program act.
History: Add. 2024, Act 224 , Eff. Oct. 17, 2025
Popular Name: Act 218