NY S00427

Establishes "Personal Motor Vehicle Sharing Act" creating a new regulatory framework (Article 35) for programs that facilitate the sharing of private passenger motor vehicles with requirements for insurance coverage and liability provisions.

Requires program providers to procure group insurance coverage with liability limits at least three times the state minimum requirements, plus comprehensive and collision protection, and provide proof of coverage to vehicle owners and renters.

Designates program providers as vehicle owners under liability law during rental periods, shielding actual vehicle owners and renters from vicarious liability while protecting their insurers' subrogation rights.

Limits individuals to enrolling four personal vehicles in sharing programs before insurers can cancel coverage, and prohibits cancellation of owner insurance policies solely because a vehicle participates in a compliant sharing program.

Restricts personal motor vehicle sharing to non-commercial use of vehicles under 10,000 pounds gross weight rating with at least four wheels, and requires programs to maintain records of rental periods, vehicle locations, mileage, and insurance claims for ten business days upon request.