SB388

Senate Bill 388 establishes the 'Peer-to-Peer Car-sharing Program Act' in Arkansas, providing a regulatory framework for platforms that facilitate the sharing of private vehicles for financial gain. The bill defines key terms, such as 'shared vehicle' and 'car-sharing period,' to distinguish these services from traditional rental companies or transportation network services. It empowers municipal and regional airport authorities to impose regulations, tolls, and fees on these car-sharing programs. Furthermore, the legislation clarifies insurance responsibilities, allowing motor vehicle liability insurers to exclude coverage for vehicles during car-sharing periods. It also grants peer-to-peer car-sharing programs the ability to maintain their own insurance policies to cover liability and damage occurring during these periods. The bill aims to standardize the legal and insurance intersection between peer-to-peer car services and state insurance regulations.