Code of Federal Regulations - Title 14

1011

Federal Aviation Administration, DOT

§ 47.9

§ 47.8

Voting trusts.

(a) If a voting trust is used to qualify

a domestic corporation as a U.S. cit-
izen, the corporate applicant must sub-
mit to the Registry—

(1) A true copy of the fully executed

voting trust agreement, which must
identify each voting interest of the ap-
plicant, and which must be binding
upon each voting trustee, the applicant
corporation, all foreign stockholders,
and each other party to the trans-
action; and

(2) An affidavit executed by each per-

son designated as voting trustee in the
voting trust agreement, in which each
affiant represents—

(i) That each voting trustee is a cit-

izen of the United States within the
meaning of 49 U.S.C. 40102(a)(15).

(ii) That each voting trustee is not a

past, present, or prospective director,
officer, employee, attorney, or agent of
any other party to the trust agree-
ment;

(iii) That each voting trustee is not a

present or prospective beneficiary,
creditor, debtor, supplier or contractor
of any other party to the trust agree-
ment;

(iv) That each voting trustee is not

aware of any reason, situation, or rela-
tionship under which any other party
to the agreement might influence the
exercise of the voting trustee’s totally
independent judgment under the voting
trust agreement.

(b) Each voting trust agreement sub-

mitted under paragraph (a)(1) of this
section must provide for the succession
of a voting trustee in the event of
death, disability, resignation, termi-
nation of citizenship, or any other
event leading to the replacement of
any voting trustee. Upon succession,
the replacement voting trustee shall
immediately submit to the Registry
the affidavit required by paragraph
(a)(2) of this section.

is modified, and the result is less than
75 percent control of the voting inter-
est in the corporation by citizens of the
United States, a loss of citizenship of
the holder of the Certificate of Aircraft
Registration, AC Form 8050–3 occurs,
and § 47.41(a)(3) of this part applies.

(d) A voting trust agreement may not

empower a trustee to act through a
proxy.

[Amdt. 47–20, 44 FR 61939, Oct. 29, 1979, as
amended by Amdt. 47–27, 70 FR 245, Jan. 3,
2005; Amdt. 47–29, 75 FR 41980, July 20, 2010]

§ 47.9

Corporations not U.S. citizens.

(a) Each corporation applying for

registration of an aircraft under 49
U.S.C. 44102 must submit to the Reg-
istry with the Aircraft Registration
Application, AC Form 8050–1—

(1) A certified copy of its certificate

of incorporation;

(2) A certification that it is lawfully

qualified to do business in one or more
States;

(3) A certification that the aircraft

will be based and primarily used in the
United States; and

(4) The location where the records re-

quired by paragraph (e) of this section
will be maintained.

(b) For the purposes of registration,

an aircraft is based and primarily used
in the United States if the flight hours
accumulated within the United States
amount to at least 60 percent of the
total flight hours of the aircraft dur-
ing—

(1) For aircraft registered on or be-

fore January 1, 1980, the 6-calendar
month period beginning on January 1,
1980, and each 6-calendar month period
thereafter; and

(2) For aircraft registered after Janu-

ary 1, 1980, the period consisting in the
remainder of the registration month
and the succeeding 6 calendar months
and each 6-calendar month period
thereafter.

only those flight hours accumulated
during non-stop (except for stops in
emergencies or for purposes of refuel-
ing) flight between two points in the
United States, even if the aircraft is
outside of the United States during
part of the flight, are considered flight
hours accumulated within the United
States.

(d) In determining compliance with

this section, any periods during which
the aircraft is not validly registered in
the United States are disregarded.

(e) The corporation that registers an

aircraft pursuant to 49 U.S.C. 44102
shall maintain, and make available for

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