The "Peer-to-Peer Car Sharing Program Act" establishes a regulatory framework for peer-to-peer car sharing programs within Title 27 of the General Laws concerning insurance. The act introduces definitions for key terms such as "car sharing period," "shared vehicle," and "peer-to-peer car sharing program." It outlines liability responsibilities for the car sharing program, which must assume liability for bodily injury or property damage to third parties during the car sharing period, with specific exceptions for intentional misrepresentation or failure to return the vehicle.

The act mandates that insurance coverage during the car sharing period must meet minimum standards as specified in existing law and can be maintained by the shared vehicle owner, the shared vehicle driver, or the peer-to-peer car sharing program itself. The insurance must recognize the vehicle's use in the car sharing program or not exclude such use.

In addition to liability and insurance requirements, the legislation emphasizes consumer protection by requiring disclosures to inform vehicle owners and drivers of their rights and responsibilities, including potential indemnification claims and limitations of insurance coverage. It sets forth recordkeeping obligations for the car sharing program, including the verification of drivers' licenses and the maintenance of records related to the use of shared vehicles.

The act also addresses automobile safety recalls, requiring that shared vehicles have no outstanding recalls before being made available for sharing. The peer-to-peer car sharing program must notify shared vehicle owners of any liens against the vehicle and the implications of such liens. The act is scheduled to take effect on January 1, 2027.