49 U.S.C. § 44109 — Reporting transfer of ownership

submitted 32 years ago by Pub. L. 103-272 to r/title-49-TRANSPORTATION · 94 words · no verdicts yet

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Anyone who owns an interest in a registered aircraft must file a notice with the Treasury Secretary when they sell, transfer, or convey that interest. They have 15 days to file after the transaction. The Secretary must also write rules exempting some people or groups from this duty.

(a) Filing Notices. A person with an ownership interest in an aircraft registered under section 44103 must file a notice with the Secretary of the Treasury, in the form the Secretary requires. This notice is due no later than 15 days after the person sells, conditionally sells, transfers, or conveys that interest. (b) Exemptions. The Secretary: (1) must write regulations that set guidelines for exempting a person or a class of people from subsection (a); and (2) may exempt a person or class under those regulations.

the actual law source: uscode.house.gov ↗public domain

(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.

Source credit: (Pub. L. 103–272, § 1(e), July 5, 1994, 108 Stat. 1166.)

history & why it existsrecord from the source credit

1994Enacted · Pub. L. 103-272 · 108 Stat. 1166

A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-272 on 1994-07-05.

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