[Code of Federal Regulations]
[Title 14, Volume 2]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 14CFR91.1003]

[Page 582-583]
 
                     TITLE 14--AERONAUTICS AND SPACE
 
CHAPTER I--FEDERAL AVIATION ADMINISTRATION, DEPARTMENT OF TRANSPORTATION 
                               (CONTINUED)
 
PART 91_GENERAL OPERATING AND FLIGHT RULES--Table of Contents
 
                Subpart K_Fractional Ownership Operations
 
Sec.  91.1003  Management contract between owner and program manager.

    Each owner must have a contract with the program manager that--
    (a) Requires the program manager to ensure that the program conforms 
to all applicable requirements of this chapter.
    (b) Provides the owner the right to inspect and to audit, or have a 
designee of the owner inspect and audit, the records of the program 
manager pertaining to the operational safety of the program and those 
records required to show compliance with the management specifications 
and all applicable regulations. These records include, but are

[[Page 583]]

not limited to, the management specifications, authorizations, 
approvals, manuals, log books, and maintenance records maintained by the 
program manager.
    (c) Designates the program manager as the owner's agent to receive 
service of notices pertaining to the program that the FAA seeks to 
provide to owners and authorizes the FAA to send such notices to the 
program manager in its capacity as the agent of the owner for such 
service.
    (d) Acknowledges the FAA's right to contact the owner directly if 
the Administrator determines that direct contact is necessary.