The rest of the story… On how badly BO’s executive orders on gun changes are…
The Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) is moving forward with more gun restrictions under President Obama’s new executive action. The ATF’s latest regulations would affect trusts and legal entities seeking to make or transfer a firearm.
The new rules would define who is the “responsible person” at these organizations that must comply with background check requirements. The current regulations target individuals who apply for guns. But the new rules would expand these regulations to an estimated 231,658 “responsible persons” at these trusts and legal entities. The ATF estimates the rule could cost industry as much as $29 million each year to comply with.
Such trusts have typically been used by collectors, to reduce NFA processing time. This rule change does replace the requirement for prior endorsement by a jurisdiction’s Chief Law Enforcement Officer for transfers to individuals with one for the CLEO to be notified of all NFA transfers.)
The FEDREG link is HERE. The official title is: Machineguns, Destructive Devices and Certain Other Firearms; Background Checks for Responsible PErsons of a Trust or LEgal Entity With Respect To Making or Transferring a Firearm.
It’s read it and weep time… Pretty much obviates most of the existing trusts. I’m having mine re-written to bring it more in line (if possible) with the new rules.