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Aircraft owners are responsible for maintaining their aircraft and pilots are responsible for making sure the aircraft is fit to fly by their visual inspections. Detailed records must be kept of all maintenance. At anytime, a mechanic or FAA rep can look to see if records are up-to-date.
There are even regulations on how the records must be kept. Periodically, aircraft manufacturers issue aircraft directives, which are actions that must be taken to keep the aircraft safe. These details are not voluntary and must be noted in the aircraft's records. Because an aircraft is used in a commercial capacity, it falls under more inspection rules than private planes. For rentals, an annual inspection is required, as well as an every-one-hundred-hour inspection.
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