Has the Entity which owns your Plane Lost Legal Status?
Were the annual reports timely filed with the Secretary of State for all of your entities?
If these annual reports are not timely filed, the entity will no longer be in good standing. After a certain period of time, the entity will be administratively dissolved by the Secretary of State.
For entities that own an aircraft and entities that operate an aircraft, if they have lost legal status (generally meaning, if they are not in good standing or have been dissolved) they are not eligible to register or operate an aircraft.
Historically, the FAA did not make a determination as to the legal status of an entity at the time of registration or during registration. However, the owner of the aircraft could be subject to enforcement action if the entity has lost legal status and this is discovered by the FAA.
Please contact Jetstream Aviation Law if we can assist you with addressing your aviation issues.
Michelle M. Wade is a partner with the law firm of Jetstream Aviation Law and counsels clients on the acquisition, financing and operation of corporate jets operated under Part 91 and Part 135 of the Federal Aviation Regulations. Jetstream Aviation Law can be found at www.JetstreamLaw.com.
The information provided here is not legal advice and does not purport to be a substitute for advice of counsel on any specific matter. For legal advice, you should consult with an attorney concerning your specific situation.
