[Code of Federal Regulations]
[Title 14, Volume 4]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 14CFR440.12]

[Page 876]
 
                     TITLE 14--AERONAUTICS AND SPACE
 
     CHAPTER III--COMMERCIAL SPACE TRANSPORTATION, FEDERAL AVIATION 
              ADMINISTRATION, DEPARTMENT OF TRANSPORTATION
 
PART 440_FINANCIAL RESPONSIBILITY--Table of Contents
 
Subpart A_Financial Responsibility for Licensed and Permitted Activities
 
Sec. 440.12  Duration of coverage for licensed reentry; modifications.

    (a) For reentry, insurance coverage required under Sec. 440.9, or 
other form of financial responsibility, shall attach upon commencement 
of licensed reentry, and remain in full force and effect as follows:
    (1) For ground operations, until completion of licensed reentry at 
the reentry site; and
    (2) For other licensed reentry activities, 30 days from initiation 
of reentry flight; however, in the event of an abort that results in the 
reentry vehicle remaining on orbit, insurance shall remain in place 
until the FAA's determination that risk to third parties and Government 
property as a result of licensed reentry is sufficiently small that 
financial responsibility is no longer necessary, as determined by the 
FAA through the risk analysis conducted to determine MPL and specified 
in a license order.
    (b) Financial responsibility required under this part may not be 
replaced, canceled, changed, withdrawn, or in any way modified to reduce 
the limits of liability or the extent of coverage, nor expire by its own 
terms, prior to the time specified in a license order, unless the FAA is 
notified at least 30 days in advance and expressly approves the 
modification.