Indiana § 24-4-9-23 Statistical reporting by rental companies; administration review of
maximum charge for damage waiver

Indiana Statutes

§ 24-4-9-23 — Statistical reporting by rental companies; administration review of maximum charge for damage waiver

Indiana·Art. 4 REGULATED BUSINESSES·Ch. 9 Motor Vehicle Rental Companies

(a)If a rental company enters into at least one

(1)rental agreement containing a damage waiver in Indiana during a calendar year, the rental company shall compile and maintain the following statistics concerning all the rental agreements the rental company enters into in Indiana during that calendar year:

(1)The total expenses incurred by the rental company as a result of damage to vehicles that is caused while the vehicles are subject to the rental agreements.

(2)The total amount of the expenses referred to in subdivision (1) for which the rental company is indemnified.

(3)The total number of vehicles subject to the rental agreements, multiplied by the total number of days of the calendar year during which the vehicles are subject to the rental agreements.

(b)The expenses on which a

Free access — add to your briefcase to read the full text and ask questions with AI

(a) If a rental company enters into at least one
(1) rental agreement containing a damage waiver in Indiana during a
calendar year, the rental company shall compile and maintain the
following statistics concerning all the rental agreements the rental
company enters into in Indiana during that calendar year:
(1) The total expenses incurred by the rental company as a result
of damage to vehicles that is caused while the vehicles are subject
to the rental agreements.
(2) The total amount of the expenses referred to in subdivision (1)
for which the rental company is indemnified.
(3) The total number of vehicles subject to the rental agreements,
multiplied by the total number of days of the calendar year during
which the vehicles are subject to the rental agreements.
(b) The expenses on which a rental company must compile statistics
under subsection (a)(1) are the following:
(1) The cost that the rental company pays to replace damaged
vehicle parts, less all discounts and price reductions or
adjustments received by the rental company.
(2) The cost of labor paid by the rental company to replace
damaged vehicle parts.
(3) The cost of labor paid by the rental company to repair
damaged vehicle parts.
(4) The loss of use of the damaged vehicles, which must be
determined according to the following formula:
STEP ONE: For each damaged vehicle, multiply the time
necessary for the repair and replacement of damaged parts by
eighty percent (80%).
STEP TWO: For each damaged vehicle, multiply the product of
STEP ONE by the rental rate set forth in the rental agreement
to which the vehicle was subject when damaged.
STEP THREE: Total the figures determined under STEP TWO
for all of the damaged vehicles.
(5) Actual charges for towing, storage, and impound fees paid by
the rental company.
(c) The director of the division of consumer protection appointed
under IC 4-6-9-2 may request that rental companies provide the
director with statistics compiled and maintained under subsection (a).
(d) Upon receiving a request under subsection (c), a rental company
shall provide the director of the division of consumer protection with
the statistics that are requested by the director.

Indiana § 24-4-9-23 (Statistical reporting by rental companies; administration review of maximum charge for damage waiver) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.