[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 (b) Financial responsibility required under this part may not be replaced, canceled, changed, withdrawn, or in any way modified to reduce the limits of liability or the extent of coverage, nor expire by its own terms, prior to the time specified in a license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.