Section 27-116-303 - Liability for injury to persons or property(a) The owner and the pilot, or either of them, of every aircraft which is operated over the lands or waters of this state shall be liable for injuries or damage to persons or property on or above the land or water beneath caused by the ascent, descent, or flight of aircraft, or the dropping or falling of any object therefrom, in accordance with the rules of law applicable to torts on land in this state.(b) The liability of the owner or pilot of an aircraft carrying passengers for injury or death to his or her passengers shall be determined by the rules of law applicable to torts on the lands or waters of this state arising out of similar relationships.(c)(1) As used in subsection (a) of this section, "owner" shall include a person having full title to aircraft and operating it through servants and shall also include a bona fide lessee or bailee of the aircraft, whether gratuitously or for hire; but "owner", as used in subsection (a) of this section, shall not include a bona fide bailor or lessor of such aircraft, whether gratuitously or for hire, or a mortgagee, conditional seller, trustee for creditors of the aircraft, or other persons having a security title only, nor shall the owner of the aircraft be liable when the pilot thereof is in possession of the aircraft as a result of theft or felonious conversion.(2) The person in whose name an aircraft is registered with the Federal Aviation Administration shall be prima facie the owner of the aircraft within the meaning of subsection (a) of this section.Acts 1941, No. 457, §§ 10, 13; A.S.A. 1947, §§ 74-110, 74-113.