[Code of Federal Regulations]
[Title 49, Volume 8]
[Revised as of October 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR1510.11]

[Page 279-280]
 
                        TITLE 49--TRANSPORTATION
 
   CHAPTER XII--TRANSPORTATION SECURITY ADMINISTRATION, DEPARTMENT OF 
                            HOMELAND SECURITY
 
PART 1510_PASSENGER CIVIL AVIATION SECURITY SERVICE FEES--Table of Contents
 
Sec. 1510.11  Handling of security service fees.

    (a) Direct air carriers and foreign air carriers are responsible for 
the safekeeping of all security service fees from the time of collection 
to remittance.

[[Page 280]]

    (b) Security service fees collected by a direct air carrier or 
foreign air carrier are held in trust by that direct carrier for the 
beneficial interest of the United States in paying for the costs of 
providing civil aviation security services described in 49 U.S.C. 44940. 
The direct air carrier or foreign air carrier holds neither legal nor 
equitable interest in the security service fees except for the right to 
retain any accrued interest on the principal amounts collected pursuant 
to Sec. 1510.13(b).
    (c) Direct air carriers and foreign air carriers must account for 
security service fees separately, but the fees may be commingled with 
the carriers' other sources of revenue.
    (d) Direct air carriers and foreign air carriers must disclose in 
their financial statements the existence and the amount of security 
service fee held in trust.