§ 44109 — Reporting Transfer Of Ownership

(a) 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. (b) 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.