§ 91.1003 Management contract between owner and program manager
14 CFR Part 91 — Subpart K—Fractional Ownership Operations
Official text — 14 CFR § 91.1003
REGULATION — LEGALLY BINDINGEach 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 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.
Reproduced from the eCFR. Text as amended through 2026-07-31. Verify against the official source before relying on it operationally.
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Is this a regulation?
Yes — this is regulatory text and is legally binding.
Text published in the Code of Federal Regulations. Regulations are legally binding on pilots and operators.