Sec. 23. (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.
As added by P.L.232-1989, SEC.1. Amended by P.L.171-1997, SEC.1; P.L.19-2005, SEC.7.
Structure Indiana Code
Article 4. Regulated Businesses
Chapter 9. Motor Vehicle Rental Companies
24-4-9-0.1. Application of Chapter to Certain Rental Agreements
24-4-9-2. "Damage Waiver"; "Waiver"
24-4-9-8.5. "Vehicle License Cost Recovery Fee"
24-4-9-9. Rental Agreement Application of Damage Waivers
24-4-9-10. Sale of Damage Waivers; Disclosures; Acknowledgment by Renter
24-4-9-11.1. Vehicle License Cost Recovery Fee; Estimates; Adjustment
24-4-9-12. Rental Company's Action for Damages
24-4-9-13. Limitation of Renter's Liability Generally
24-4-9-15. Renter's Maximum Total Liability; Multiple Recovery of Single Item of Damages
24-4-9-16. Damage Deposits or Advances; Payment for Damage; Liability
24-4-9-17. Rental Rates, Mileage Charges, and Fees; Disclosures and Prohibited Practices
24-4-9-18. Additional Charges for Optional Items
24-4-9-19. Nonconforming Rental Agreements Unenforceable
24-4-9-20. Renter's Action for Damages or Equitable Relief; Attorney's Fees
24-4-9-21. Waiver of Chapter Provisions Void and Unenforceable
24-4-9-22. Unfair, Deceptive, or Coercive Acts by Rental Company
24-4-9-24. Remedies for Rental Company Violations of Chapter Provisions