N.Y. Gen. Bus. Law § 904
Insurable interest
Redline — January 1, 2022 → current.View current text →
Current — January 1, 2023
As of January 1, 2022
* § 904. Lien implications; notification. When a vehicle owner first\nregisters as a shared vehicle owner on a peer-to-peer car sharing\nprogram and prior to such time as when the shared vehicle owner makes a\nshared vehicle available for peer-to-peer car sharing on the\npeer-to-peer car sharing program, the peer-to-peer car sharing program\nshall notify in plain conspicuous language the shared vehicle owner\nthat, if the shared vehicle shall have a lien against it, the use of the\nshared vehicle through a peer-to-peer car sharing program, including use\nwithout physical damage coverage, may violate the terms of the contract\nwith the lienholder.\n * NB Effective March 22, 2022\n
§ 904. Insurable interest. 1. Notwithstanding any other provision of\nlaw to the contrary, a peer-to-peer car sharing program administrator\nshall have an insurable interest in a shared vehicle during the\npeer-to-peer car sharing period.\n 2. Nothing in this section shall create an obligation for a\npeer-to-peer car sharing program administrator to provide insurance\nbeyond the requirement to ensure financial security pursuant to the\nprovisions of subdivision two of section nine hundred one of this\narticle.\n
Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.