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An Act To Allow Equipment Rental Companies To Sell Equipment Insurance
Be it enacted by the People of the State of Maine as follows:
Sec. 1.  24-A MRSA §3062  is enacted to read:
§ 3062. Coverage for rental equipment permitted
 
1.  Definitions.     As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
 
A.  "Covered rental agreement" means a written agreement with a term of 30 continuous days or fewer setting forth the terms and conditions governing the use of covered rental equipment provided by a rental company.
 
B.  "Covered rental equipment" means equipment rented pursuant to a covered rental agreement for personal or household purposes.
 
C.  "Rental company" means a person or organization, including a franchisee, in the business of renting equipment to the public.
 
2.  Coverage for rental equipment permitted.     Notwithstanding any other provision of this Title, a rental company may offer for sale an insurance policy insuring against the loss of or damage to covered rental equipment under a covered rental agreement.
 
SUMMARY
This bill allows a rental company to offer for sale an insurance policy insuring against the loss of or damage to equipment rented for personal or household purposes.