✈️FAA Requests Comments on Aircraft Security Document Collection
Agency Information Collection Activities: Requests for Comments; Clearance of a Renewed Approval of Information Collection: Recording of Aircraft Conveyances and Security Documents.
Summary
In accordance with the Paperwork Reduction Act of 1995, FAA invites public comments about our intention to request the Office of Management and Budget (OMB) approval to revise and renew an information collection. The collection involves a security holder completing an AC Form 8050-98, Aircraft Security Agreement and returning a completed AC Form 8050-41, Notice of Recordation--Aircraft Security Conveyance with Part II--Release to the Civil Aviation Registry, Aircraft Registration Branch (Registry). The information is used to record a security interest in an aircraft and eligible engines, propellers, or spare part locations and release that interest when the debt is satisfied.
Agencies
- Transportation Department
- Federal Aviation Administration
Business Impact
$$ - Med
The regulation outlines requirements for recording security interests in aircraft, which directly affects businesses in the aviation sector handling financing or ownership changes. Compliance with the FAA's information collection and reporting requirements can influence their financial operations.