(a) Each person conducting operations under this subpart or furnishing fractional ownership program management services to fractional owners must do so in accordance with management specifications issued by the Administrator to the fractional ownership program manager under this subpart. Management specifications must include:
(1) The current list of all fractional owners and types of aircraft, registration markings and serial numbers;
(2) The authorizations, limitations, and certain procedures under which these operations are to be conducted,
(3) Certain other procedures under which each class and size of aircraft is to be operated;
(4) Authorization for an inspection program approved under § 91.1109, including the type of aircraft, the registration markings and serial numbers of each aircraft to be operated under the program. No person may conduct any program flight using any aircraft not listed.
(5) Time limitations, or standards for determining time limitations, for overhauls, inspections, and checks for airframes, engines, propellers, rotors, appliances, and emergency equipment of aircraft.
(6) The specific location of the program manager's principal base of operations and, if different, the address that will serve as the primary point of contact for correspondence between the FAA and the program manager and the name and mailing address of the program manager's agent for service;
(7) Other business names the program manager may use;
(8) Authorization for the method of controlling weight and balance of aircraft;
(9) Any authorized deviation and exemption granted from any requirement of this chapter; and
(10) Any other information the Administrator determines is necessary.
(b) The program manager may keep the current list of all fractional owners required by paragraph (a)(1) of this section at its principal base of operation or other location approved by the Administrator and referenced in its management specifications. Each program manager shall make this list of owners available for inspection by the Administrator.
(c) Management specifications issued under this subpart are effective unless—
(1) The management specifications are amended as provided in § 91.1017; or
(2) The Administrator suspends or revokes the management specifications.
(d) At least 30 days before it proposes to establish or change the location of its principal base of operations, its main operations base, or its main maintenance base, a program manager must provide written notification to the Flight Standards District Office that issued the program manager's management specifications.
(e) Each program manager must maintain a complete and separate set of its management specifications at its principal base of operations, or at a place approved by the Administrator, and must make its management specifications available for inspection by the Administrator and the fractional owner(s) to whom the program manager furnishes its services for review and audit.
(f) Each program manager must insert pertinent excerpts of its management specifications, or references thereto, in its program manual and must—
(1) Clearly identify each such excerpt as a part of its management specifications; and
(2) State that compliance with each management specifications requirement is mandatory.
(g) Each program manager must keep each of its employees and other persons who perform duties material to its operations informed of the provisions of its management specifications that apply to that employee's or person's duties and responsibilities.