[Code of Federal Regulations]

[Title 14, Volume 3]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 14CFR198.15]



[Page 314-315]

 

                     TITLE 14--AERONAUTICS AND SPACE

 

CHAPTER I--FEDERAL AVIATION ADMINISTRATION, DEPARTMENT OF TRANSPORTATION 

                               (CONTINUED)

 

PART 198_AVIATION INSURANCE--Table of Contents

 

Sec. 198.15  Non-premium insurance--payment of registration binders.



    (a) The binder for initial registration is $575 for each aircraft or 

insurable item. This binder is adjusted not more frequently than 

annually based on changes in the Consumer Price Index of All Urban 

Consumers published by the Secretary of Labor.

    (b) An application for non-premium insurance must be accompanied by 

the proper binder, payable to the FAA. A binder is not returnable unless 

the application is rejected.



[[Page 315]]



    (c) Requests made after issuance of a non-premium policy for the 

addition of an aircraft or insurable item must be accompanied by the 

binder for each aircraft and insurable item.

    (d) When an operator acquires an aircraft or insurable item that was 

previously covered under an active or standby policy, the new operator 

must register that aircraft or item on its policy and pay the binder for 

each aircraft and insurable item.