A person having an ownership interest in an aircraft for which a certificate of registration was issued under section 44103 of this title shall file a notice with the Secretary of the Treasury that the Secretary requires by regulation, not later than 15 days after a sale, conditional sale, transfer, or conveyance of the interest.
The Secretary—
(1) shall prescribe regulations that establish guidelines for exempting a person or class from subsection (a) of this section; and
(2) may exempt a person or class under the regulations.
(Pub. L. 103–272, § 1(e), July 5, 1994, 108 Stat. 1166.)
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