Management specifications

This regulation requires fractional ownership program managers to obtain and operate under management specifications issued by the FAA—essentially their operating certificate and rulebook combined.

These specifications must detail the aircraft in the program, all fractional owners, operational procedures, inspection programs, maintenance requirements, and the manager's base of operations. The program manager must keep these specifications at their principal base where both the FAA and fractional owners can inspect them.

Key practical requirements include:

• Only aircraft listed in the specifications may be flown under the program
• Pertinent excerpts must be included in the company's operations manual
• Employees must be informed of relevant provisions
• The FAA must receive 30 days' written notice before changing operational bases
• The specifications remain valid unless amended, suspended, or revoked

The regulation also permits temporary document verification for airman and medical certificates for up to 72 hours within the U.S. if the program manager has an approved verification plan.

*This is a plain-English summary for study only. The official 14 CFR text on this page is controlling — always read the current regulation and consult a CFI.*