[Code of Federal Regulations]
[Title 49, Volume 5]
[Revised as of October 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 49CFR376.11]

[Page 135]
 
                        TITLE 49--TRANSPORTATION
 
                      DEPARTMENT OF TRANSPORTATION
 
PART 376_LEASE AND INTERCHANGE OF VEHICLES--Table of Contents
 
                      Subpart B_Leasing Regulations
 
Sec.  376.11  General leasing requirements.


    Other than through the interchange of equipment as set forth in 
Sec.  376.31, and under the exemptions set forth in subpart C of these 
regulations, the authorized carrier may perform authorized 
transportation in equipment it does not own only under the following 
conditions:
    (a) Lease. There shall be a written lease granting the use of the 
equipment and meeting the requirements contained in Sec.  376.12.
    (b) Receipts for equipment. Receipts, specifically identifying the 
equipment to be leased and stating the date and time of day possession 
is transferred, shall be given as follows:
    (1) When possession of the equipment is taken by the authorized 
carrier, it shall give the owner of the equipment a receipt. The receipt 
identified in this section may be transmitted by mail, telegraph, or 
other similar means of communication.
    (2) When possession of the equipment by the authorized carrier ends, 
a receipt shall be given in accordance with the terms of the lease 
agreement if the lease agreement requires a receipt.
    (3) Authorized representatives of the carrier and the owner may take 
possession of leased equipment and give and receive the receipts 
required under this subsection.
    (c) Identification of equipment. The authorized carrier acquiring 
the use of equipment under this section shall identify the equipment as 
being in its service as follows:
    (1) During the period of the lease, the carrier shall identify the 
equipment in accordance with the FMCSA's requirements in 49 CFR part 390 
of this chapter (Identification of Vehicles).
    (2) Unless a copy of the lease is carried on the equipment, the 
authorized carrier shall keep a statement with the equipment during the 
period of the lease certifying that the equipment is being operated by 
it. The statement shall also specify the name of the owner, the date and 
length of the lease, any restrictions in the lease relative to the 
commodities to be transported, and the address at which the original 
lease is kept by the authorized carrier. This statement shall be 
prepared by the authorized carrier or its authorized representative.
    (d) Records of equipment. The authorized carrier using equipment 
leased under this section shall keep records of the equipment as 
follows:
    (1) The authorized carrier shall prepare and keep documents covering 
each trip for which the equipment is used in its service. These 
documents shall contain the name and address of the owner of the 
equipment, the point of origin, the time and date of departure, and the 
point of final destination. Also, the authorized carrier shall carry 
papers with the leased equipment during its operation containing this 
information and identifying the lading and clearly indicating that the 
transportation is under its responsibility. These papers shall be 
preserved by the authorized carrier as part of its transportation 
records. Leases which contain the information required by the provisions 
in this paragraph may be used and retained instead of such documents or 
papers. As to lease agreements negotiated under a master lease, this 
provision is complied with by having a copy of a master lease in the 
unit of equipment in question and where the balance f documentation 
called for by this paragraph is included in the freight documents 
prepared for the specific movement.
    (2) [Reserved]

[44 FR 4681, Jan. 23, 1979, as amended at 49 FR 47269, Dec. 3, 1984; 49 
FR 47850, Dec. 7, 1984; 50 FR 24649, June 12, 1985; 51 FR 37406, Oct. 
22, 1986; 62 FR 15424, Apr. 1, 1997]