I decided to have another cup of coffee and do a little research.
I went to the Airnet website, which was the best example that I had heard of involving an SIC in a piston twin, an poked around a little.
Under work with us>careers>flight crew>FAQ's>Q: How does an SIC log flight time in a high-performance piston twin?
Note: As of January 1, 2003, the SIC program is temporarily on hold. See the articles in the ALPC magazine dated Nov. '98 and Dec. '99 using the links in this site.
The underlined article link on the site has an explanation of the airnet approach to the SIC position. The salient points are here:
Logging SIC/PIC time: here's how.
In addition to hiring pilot in command (PIC) qualified pilots, AirNet Systems, Inc. offers a program by which pilots serve as first officers (FOs) on light, twin-engine, piston-powered aircraft operating under 14 CFR 135. Candidates for this particular program have less than 1,200 hours total flight time and/or less than certain categories of flight time such as cross country. As noted in 14 CFR 135.243(c), 1,200 hours total flight time, is the minimum total time a pilot must have to be assigned as pilot in command in IFR conditions while operating under 14 CFR 135. In the same regulation, minimums also are established for cross country, night, and instrument flight time. No minimum PIC time is specified.
The minimum grade of pilot certificate for PIC or second in command (SIC) is Commercial. AirNet’s first officer program allows pilots to build their flight time to 1,200 hours and/or to meet the minimums established for the categories mentioned above.
Here is how a pilot utilizes the flight time accrued in AirNet’s program: 14 CFR 135 subparts G and H establish the requirements for testing and training of flight crew members in each type of aircraft to which they are assigned to duty by an air carrier operating under 14 CFR 135. For a flight crew member to be assigned duty, the air carrier and the pilot must comply with all requirements. This, of course, allows the pilot to be on board the aircraft as a flight crew member.
Since the pilot can now legally be a flight crew member, the pilot also can manipulate the aircraft’s flight controls. How a pilot logs the flight time is found in 14 CFR 61.51(e)1. If a pilot assigned as SIC manipulates the flight controls of an aircraft in which that pilot is rated, that pilot may log the time as PIC. This does NOT change who is assigned as pilot in command.
Operations conducted under 14 CFR 135 can have only ONE assigned PIC, regardless of who is manipulating the flight controls. The assigned PIC must be assigned in writing and remains the pilot in command throughout the flight. Therefore, when the SIC manipulates the flight controls, that pilot may log PIC flight time. (emphasis added)
The only time the second in command can log SIC flight time is while that person is serving as second in command on an aircraft requiring more than one pilot by its type certificate, or when required by the regulations under which the flight is conducted. (emphasis added)
Obviously, AirNet’s light piston twins do not require more than one pilot by the type certificates, however, there are conditions under 14 CFR 135 operations which do require two pilots regardless of the aircraft type. Examples include takeoffs below 1,800 RVR, carrying passengers in IFR conditions without an autopilot, and whenever the flight crew is being assigned to more than eight hours of flight time.
In most cases, even these requirements do not apply to operations at AirNet, therefore, the SIC logs pilot in command time while being the sole manipulator of the flight controls and logs total time only, when not manipulating the flight controls. (emphasis added)
This program and method of logging flight time is supported not only by Federal Aviation Regulations, but also by legal interpretations. Keep in mind, however, that as pilots move through their careers and apply for other jobs, certain organizations may require specific conditions of pilot in command time. (emphasis added for our discussion of the pic time being sought by airlines, such as the following paragraph)
One major airline, for example, has very specific instructions on its application that state pilot in command time is ONLY the time for which you were responsible for or in charge of the aircraft, not merely sole manipulator of the flight controls.
In summary, there is a difference between who is assigned as pilot in command and who may be manipulating the flight controls and logging PIC time. At times, both pilots may be logging PIC time because one is the assigned pilot in command (acting PIC as provided in 14 CFR 61.51(e)1(iii)) and the other may be manipulating the flight controls but assigned as second in command.
In most cases at AirNet, an assigned SIC is either logging the time as pilot in command when he or she is the sole manipulator of the flight controls, logging the flight time as total time only when not manipulating the flight controls, or as SIC if required to be there either by the aircraft type certificate or by the regulations under which the operations are conducted.
Pilots who still have questions about how the AirNet second in command program works may contact us at (877) 247-6386.— Clair Morris,Director of Training, AirNet Express
So, that's the whole thing in a nutshell.