40 and 50 mhz is not legal to use according to FCC. 27 Mhz has only 6 channels. 75 mhz has 30 channels. Both 27 & 75 mhz come in AM or FM.
Theoretically, AM and FM of the same channel can be run without together but why risk the chance of glitching? At the track where I run, they don't care whether it's AM or FM ... can't have the same channels. It's a good practice to go by.