A new FAA rule, set for implementation in late 2002, will have a major impact on business aviation. Part 91 of the Federal Aviation Regulations (FAR) will be amended to add the new "Subpart K." Subpart K will distinguish fractional ownership programs from other traditional business aircraft ownership arrangements. The new rule will not affect the pre-existing requirements under FAR 91.501 et seq. regarding traditional corporate flight departments, flying clubs and various forms of Section 91.501 ownership.
This is a companion discussion topic for the original entry at https://www.avweb.com/aviation-news/fractional-ownership-liability