MI HB4916

Adds exemption from vehicle owner liability for shared vehicle owners during car sharing periods, as defined in the peer-to-peer car sharing program act.

Clarifies existing liability provisions for motor vehicle lessors by distinguishing between long-term leases (over 30 days) and short-term leases (30 days or less).

Limits liability for short-term vehicle lessors to $20,000 per person or $40,000 per accident unless the lessor was negligent in leasing the vehicle.

Requires short-term vehicle lessors to notify lessees of liability caps and that lessees may be liable for damages exceeding the maximum amounts.

Specifies that off-lease vehicle dealers are liable only if they possess the vehicle and have acknowledged possession of the certificate of title to the lessor.