[§437D-5] Rental agreements; collision damage waivers. (a) Each rental agreement which contains a collision damage waiver shall disclose, at a minimum, in plain language and in at least ten-point boldface type, the following information:

(1) That the collision damage waiver is optional;

(2) That the collision damage waiver entails an additional charge;

(3) The actual charge per day for the collision damage waiver;

(4) All restrictions, conditions, and provisions in or endorsed on the collision damage waiver;

(5) That the lessee may already be sufficiently covered and should examine the lessee's personal automobile insurance policy to determine whether it provides coverage for collision damage and the amount of the deductible;

(6) That by entering into the rental agreement, the lessee may be liable for damage to the rental motor vehicle resulting from a collision; and

(7) The acknowledgment described in section 437D-11.

(b) The rental agreement shall not contain an unreasonable restriction, condition, or provision in or endorsed on a collision damage waiver. The collision damage waiver shall not exclude damages caused by ordinary negligence on the part of the lessee. [L 1988, c 251, pt of §2]