PRIA, Government Policy, Made Personal

Summary

If you own any part of an aircraft that has a federal registration certificate, you must send a notice to the Secretary of the Treasury, as the Secretary’s rules require, no later than 15 days after you sell, conditionally sell, transfer, or convey that ownership interest. The Secretary must write rules that explain when someone or a group does not have to file. Under those rules, the Secretary can exempt a person or a class of people from the filing requirement.

Title 49, §44109

Transportation, Source: USLM XML via OLRC

(a)Filing Notices.—

A person having an ownership interest in an aircraft for which a certificate of registration was issued under section 44103 of this title shall file a notice with the Secretary of the Treasury that the Secretary requires by regulation, not later than 15 days after a sale, conditional sale, transfer, or conveyance of the interest.

(b)Exemptions.—

The Secretary—

(1)shall prescribe regulations that establish guidelines for exempting a person or class from subsection (a) of this section; and

(2)may exempt a person or class under the regulations.

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 44109(a)49 App.:1509(f).Aug. 23, 1958, Pub. L. 85–726, 72 Stat. 731, § 1109(f); added Oct. 27, 1986, Pub. L. 99–570, § 3401(d)(1), 100 Stat. 3207–101. 44109(b)49 App.:1509 (note).Oct. 27, 1986, Pub. L. 99–570, § 3401(d)(2), 100 Stat. 3207–102. In subsection (a), the text of 49 App.:1509(f) (last sentence) is omitted as unnecessary. In subsection (b)(1), the words “Within 30 days after the date of enactment of subsection (f) of section 1109 of the Federal Aviation Act of 1958 as added by this subsection” are omitted as obsolete.

§44109 Reporting Transfer of Ownership

Summary

Title 49, §44109

Notes & Related Subsidiaries

Historical and Revision Notes

Citations & Metadata