Obama admin executive order addresses trust "loophole"

[CJ]

Most trusts have clauses (NFA trusts) that will assign ownership to an interim beneficiary until the primary beneficiary is of legal age to take possession. A trust's beneficiaries have no age constraints, but trustees do, since you have to be 18 years old to enter into a legal binding contract.

[David]

Rereading on a real computer now, this also means trusts/corps will have to go the CLEO route.

Abstract: The Department of Justice is proposing to amend the regulations of the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) regarding the making or transferring of a firearm under the National Firearms Act. The proposed regulations would (1) add a definition for the term "responsible person"; (2) require each responsible person of a corporation, trust or legal entity to complete a specified form, and to submit photographs and fingerprints; and (3) modify the requirements regarding the certificate of the chief law enforcement officer (CLEO).

[Moose242]

"Modify" could mean eliminate for all that we know as of now. BATF has 90 days to determine what sort of action they will take.

[Moose242]

Most trusts have clauses (NFA trusts) that will assign ownership to an interim beneficiary until the primary beneficiary is of legal age to take possession. A trust's beneficiaries have no age constraints, but trustees do, since you have to be 18 years old to enter into a legal binding contract.

Interesting, I had not considered that.

[David]

"Modify" could mean eliminate for all that we know as of now. BATF has 90 days to determine what sort of action they will take.

Could be, but why make it easier when they're current course seems to lead to more difficulty...

[Moose242]

I tend to agree however I guess we will have to wait as many as 90 days to figure out what they are going to do.

[David]

I tend to agree however I guess we will have to wait as many as 90 days to figure out what they are going to do.

And its open for comments and review from the public.

[David]

After more reading this seems more like gun owners shooting each other in the back.

[David]

Obama admin executive order addresses trust "loophole"

https://www.atf.gov/sites/default/files/assets/inside-atf/2013/082913-wash-machine-guns-destructive-devices-and-certain-other-firearms.pdf

[Moose242]

Aaaaaaaand rage.

[David]

This could severely hurt the industry but atleast machine gun prices should really drop if progress continues...

[Moose242]

I literally just bought my dream "gun" (Fleming sear). I will be very angry if my forms get kicked back halfway through the process with a snippy note that reads "please attach photo, prints, and law enforcement signature".

[Mach1Run]

I literally just bought my dream "gun" (Fleming sear). I will be very angry if my forms get kicked back halfway through the process with a snippy note that reads "please attach photo, prints, and law enforcement signature".

Its just doing to have a giant "DO OVER" stamped on it.

[David]

It's all speculation as of now, but some think that forms already submitted would follow current rules. But others think rejecting 50k forms is easier.

[Moose242]

It's all speculation as of now, but some think that forms already submitted would follow current rules. But others think rejecting 50k forms is easier.

Speculation seems to be the theme of this thread, but to me this really is scary. I have the sear pending and did an SBR on the eforms to try them out. I guess I will send out a dozen form 1s today and hope that the pending forms avoid the bullshit of a signature and photo/prints.