FAR 91.1015 — Management Specifications
FAR 91.1015 explains the management specifications required for fractional ownership program managers, including required content, location, and crew certificate verification.
FAR 91.1015 governs the management specifications (often called "M-specs") that the FAA issues to a fractional ownership program manager operating under Subpart K. Think of management specifications as the program manager's rulebook — the FAA-approved document that defines exactly how the operation must be run.
The management specifications must include:
- A current list of all fractional owners and the aircraft (registration and serial numbers) they own shares in
- Authorizations, limitations, and operating procedures for each class and size of aircraft
- An approved inspection program under § 91.1109
- Time limits for overhauls, inspections, and checks of airframes, engines, propellers, appliances, and emergency equipment
- The principal base of operations and agent for service
- Weight and balance control method
- Any authorized deviations or exemptions
The program manager must keep a complete copy at its principal base, make it available to the FAA and fractional owners, and inform employees of the parts that apply to their duties. A 30-day written notice to the Flight Standards office is required before changing the principal base, main operations base, or main maintenance base. Management specifications stay in effect until amended, suspended, or revoked.
This matters because every Subpart K flight you conduct must comply with the M-specs — they shape your operating limits, maintenance schedule, and crew procedures.
Five FAA-written-style questions. Instant explanations, every answer cites its source — no account needed.
You are flying VFR in Class E airspace at 8,500 feet MSL during the day. What are your minimum visibility and cloud clearance requirements?