49 CFR 1548.16 - Security threat assessments for each proprietor, general partner, officer, director, and certain owners of the entity.

§ 1548.16 Security threat assessments for each proprietor, general partner, officer, director, and certain owners of the entity.
(a) Before an indirect air carrier permits a proprietor, general partner, officer, director, or owner of the entity to perform those functions—
(1) The proprietor, general partner, officer, director, or owner of the entity must successfully complete a security threat assessment or comparable security threat assessment described in part 1540 subpart C of this chapter; and
(2) Each indirect air carrier must complete the requirements in 49 CFR part 1540, subpart C.
(b) For purposes of this section, owner means—
(1) A person who directly or indirectly owns, controls, or has power to vote 25 percent or more of any class of voting securities or other voting interests of an IAC or applicant to be an IAC; or
(2) A person who directly or indirectly controls in any manner the election of a majority of the directors (or individuals exercising similar functions) of an IAC, or applicant to be an IAC.
(c) For purposes of this definition of owner
(1) Members of the same family must be considered to be one person.
(i) Same family means parents, spouses, children, siblings, uncles, aunts, grandparents, grandchildren, first cousins, stepchildren, stepsiblings, and parents-in-law, and spouses of any of the foregoing.
(ii) Each member of the same family, who has an ownership interest in an IAC, or an applicant to be an IAC, must be identified if the family is an owner as a result of aggregating the ownership interests of the members of the family.
(iii) In determining the ownership of interests of the same family, any voting interest of any family member must be taken into account.
(2) Voting securities or other voting interests means securities or other interests that entitle the holder to vote for or select directors (or individuals exercising similar functions).
(d) Each indirect air carrier, or applicant to be an indirect air carrier, must ensure that each proprietor, general partner, officer, director and owner of the entity has successfully completed a Security Threat Assessment under part 1540, subpart C, of this chapter not later than a date to be specified by TSA in a future rule in the Federal Register.
[71 FR 30516, May 26, 2006; 71 FR 31965, June 2, 2006, as amended at 71 FR 62550, Oct. 25, 2006; 72 FR 13026, Mar. 20, 2007; 74 FR 47706, Sept. 16, 2009]

Title 49 published on 2014-10-01

no entries appear in the Federal Register after this date.