24 Va. Admin. Code § 5-20-350
To provide an annual physical count of based aircraft, all Virginia licensed or registered airports shall submit annually a survey of all based aircraft with information as required on a form provided by the department.
Annually, the owner or operator of each licensed airport or landing area shall provide to the department, on appropriate forms prescribed and furnished by the department or by a certificate provided by the insurance carrier setting out the name of the insurance carrier and the coverage provided, the term of such coverage. In the event the coverage is canceled or terminated for any reason, notice of such action shall be filed with the department within 30 calendar days.
The department must receive such annual aircraft survey and annual proof of financial responsibility within 45 days of survey transmittal. Submission of the financial responsibility report is considered a minimum requirement for licensure as described in subdivision 9 of 24VAC5-20-140. Failure to submit both the annual aircraft survey and annual proof of financial responsibility may cause the department to seek sanctions as provided for in Part VI (24VAC5-20-275 et seq.).
24 Va. Admin. Code § 5-20-350
Statutory Authority
§§ 5.1-2.2 and 5.1-2.15 of the Code of Virginia.