House Gun Ban Bill

thebrasilian · Jan 3, 2013

We already know about the one that will be introduced by Diane in the Senate. Well the House is having one introduced this week. Did you hear about it yet?
http://www.huffingtonpost.com/2012/12/2 ... 76838.html

Check out this video below. He mentions that Lindsey Graham may be in support of a magazine ban. He also discusses this house bill. It is not out in for view yet but the guy mentioned something that caught my ear. Current ownership may be grandfathered. But magazines and weapons may NOT be transferable. What does this mean? You will not be able to transfer these items to your children...legally.

http://www.youtube.com/watch?v=EXrAt7-ij2k

rotarymike · Jan 3, 2013

thebrasilian said:
We already know about the one that will be introduced by Diane in the Senate. Well the House is having one introduced this week. Did you hear about it yet?
http://www.huffingtonpost.com/2012/12/2 ... 76838.html

Check out this video below. He mentions that Lindsey Graham may be in support of a magazine ban. He also discusses this house bill. It is not out in for view yet but the guy mentioned something that caught my ear. Current ownership may be grandfathered. But magazines and weapons may NOT be transferable. What does this mean? You will not be able to transfer these items to your children...legally.

http://www.youtube.com/watch?v=EXrAt7-ij2k

Then I see a lot of trusts/corporations being formed and a lot of guns pre-enactment being transferred to those entities. Corporations never die.

Tigerstripe · Jan 3, 2013

Mike, what would be said about me leaving my mags to my son in a will? if it pre dates the ban would that work?

rotarymike · Jan 3, 2013

I don't know, without seeing the final language of the bill. They could easily prohibit transfer to a nonhuman entity if they wanted to.

My statement is based off current NFA law, which allows NFA-covered weapons to be transferred to trusts and/or corporations. This is the legal vehicle many NFA owners use to protect their investments - You can add a trustee or corporate member to 'inherit' control if you, the principal, dies or is otherwise prohibited from possessing the item.

The way I've read Feinstein's preliminary language, you could not as a private owner transfer any banned guns or magazines to another private owner. It did not mention corporations or trusts at all.

Tigerstripe · Jan 3, 2013

think of this

if the manufacturers were on our side they would be producing hi cap mags as fast as they could and selling them at the lowest possible price. guns too.

Tigerstripe · Jan 3, 2013

do you do "trusts"?

rotarymike · Jan 3, 2013

I can. However I'd wait to see what the final language is of any possible bill before dropping a few hundred on a firearms trust.

thebrasilian · Jan 3, 2013

rotarymike said:
I don't know, without seeing the final language of the bill. They could easily prohibit transfer to a nonhuman entity if they wanted to.

My statement is based off current NFA law, which allows NFA-covered weapons to be transferred to trusts and/or corporations. This is the legal vehicle many NFA owners use to protect their investments - You can add a trustee or corporate member to 'inherit' control if you, the principal, dies or is otherwise prohibited from possessing the item.

The way I've read Feinstein's preliminary language, you could not as a private owner transfer any banned guns or magazines to another private owner. It did not mention corporations or trusts at all.

Good info there. Thanks.

PCShogun · Jan 3, 2013

Tigerstripe said:
think of this

if the manufacturers were on our side they would be producing hi cap mags as fast as they could and selling them at the lowest possible price. guns too.

Uh, they are making them as fast as they can. prior to this mess happening, most manufacturers were at about 90% capacity already.

Prices go up because they can. If no one buys at the higher price, sales go down, and prices come down. If people buy at the higher prices, then Hey!, they make more money, to hopefully survive the lean years coming. Its called capital enterprise. They exist to make money, not to provide the public with firearms. Its what this country is built on.

I may not like it either, but I understand it.

Tigerstripe · Jan 4, 2013

im going by what Chris was told when he called Armalite.

they were slowing production so they would not be stuck with inventory.

Midnight Raver · Jan 4, 2013

Tigerstripe said:
im going by what Chris was told when he called Armalite.

they were slowing production so they would not be stuck with inventory.

Companies taking big hits for large quantities of unsellable stock supplies can easily put themselves into a pit they can't get out of- especially smaller ones.