Section 3043 - Coverage for rental equipment permitted1.Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings. A. "Covered rental agreement" means a written agreement with a term of 30 continuous days or fewer setting forth the terms and conditions governing the use of covered rental equipment provided by a rental company. [2015, c. 77, §8(NEW).]B. "Covered rental equipment" means equipment rented pursuant to a covered rental agreement for personal or household purposes. [2015, c. 77, §8(NEW).]C. "Rental company" means a person or organization, including a franchisee, in the business of renting equipment to the public. [2015, c. 77, §8(NEW).] [2015, c. 77, §8(NEW).]
2.Coverage for rental equipment permitted. Notwithstanding any other provision of this Title, a rental company may offer for sale an insurance policy insuring against the loss of or damage to covered rental equipment under a covered rental agreement. [2015, c. 77, §8(NEW).]
Added by 2015, c. 77,§ 8, eff. 10/15/2015.