What are the laws and regulations regarding aircraft leasing?

In Oklahoma, aircraft leasing is regulated by Federal Aviation Regulations (FARs) as well as Oklahoma state laws. The FARs outline the requirements for aircraft leasing, including the types of aircraft that can be leased, the terms and conditions of the lease, and liability insurance requirements for the aircraft. In addition to federal regulations, Oklahoma state laws also regulate aircraft leasing in the state. These laws provide additional protections for lessees and lenders by outlining the rights and responsibilities of each party in the leasing transaction. For instance, Oklahoma state law states that the lessee must legally operate the aircraft, provide the lender with proof of adequate liability insurance, and ensure that the aircraft is operated safely and in accordance with FAA regulations. Most aircraft leases must be registered with the Oklahoma Aeronautics Commission (OAC). This registration is necessary to ensure that the aircraft is not being used for fraudulent purposes and to ensure that the aircraft is properly maintained and operated. The registration process includes submitting a detailed aircraft leasing agreement and all information concerning the lessee, lessor, and aircraft, as well as other documentation. In summary, aircraft leasing is subject to both federal regulations and Oklahoma state laws, and all aircraft leasing agreements must be registered with the Oklahoma Aeronautics Commission to ensure compliance with these laws.

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What are the laws and regulations regarding aircraft leasing?

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