Texas Business & Commerce Code

§ 113.0057 — INSURABLE INTEREST

BC § 113.0057Title 5. REGULATION OF BUSINESSES AND SERVICES · Part C. BUSINESS OPERATIONS · Ch. 113. PEER-TO-PEER CAR SHARING PROGRAMS · Art. B. ASSUMPTION OF LIABILITY AND INSURANCE REQUIREMENTS

Statute text

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(a)Notwithstanding any other law, a peer-to-peer car sharing program has an insurable interest in a shared vehicle during the car sharing period.

(b)Nothing in this section creates a duty on a peer-to-peer car sharing program to maintain the coverage required under this subchapter.

(c)A peer-to-peer car sharing program may own and maintain as the named insured one or more policies of automobile insurance that separately or in combination provide coverage for:

(1)liability assumed by the program under an agreement;

(2)liability of the owner;

(3)damage to or loss of the shared vehicle; or

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Legislative history

Added by Acts 2021, 87th Leg., R.S., Ch. 445 (H.B. 113), Sec. 1, eff. September 1, 2021.