SC-Texas
Texas Gun Trust
I spent most of the day talking to my clients about the proposed changes coming by fiat from the executive branch of the Obomber administration. This is what we know (other than fact that the nfatca selling us down the river and lying about it):
And the link to the whitehouse website.http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201210&RIN=1140-AA43
So, the NFA trust is not going away. The effect of the new rules will largely depend on the definition of responsible person. If this the settlor only, them that is one thing. If ALL trustees are considered RPs, then the rule will have a much larger affect on the trust.
We will have to wait and see for a few more days.
What can be done? It's time to start getting the TSRA, the NRA involved in fighting this. it's time to start calling and emailing all of our congress critters and warning them that the Obomber administration is usurping the power of congress by back dooring anti-gun legislation and exceeding the authorit of the executive branch.
Sean Cody
Attorney
281-451-4175
"Closing a Loophole to Keep Some of the Most Dangerous Guns Out of the Wrong Hands
- Current law places special restrictions on many of the most dangerous weapons, such as machine guns and short-barreled shotguns. These weapons must be registered, and in order to lawfully possess them, a prospective buyer must undergo a fingerprint-based background check.
- However, felons, domestic abusers, and others prohibited from having guns can easily evade the required background check and gain access to machine guns or other particularly dangerous weapons by registering the weapon to a trust or corporation. At present, when the weapon is registered to a trust or corporation, no background check is run. ATF reports that last year alone, it received more than 39,000 requests for transfers of these restricted firearms to trusts or corporations.
- Today, ATF is issuing a new proposed regulation to close this loophole. The proposed rule requires individuals associated with trusts or corporations that acquire these types of weapons to undergo background checks, just as these individuals would if the weapons were registered to them individually. By closing this loophole, the regulation will ensure that machine guns and other particularly dangerous weapons do not end up in the wrong hands.
And the link to the whitehouse website.http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201210&RIN=1140-AA43
Title: Background Checks for Principal Officers of Corporations, Trusts, and Other Legal Entities With Respect to the Making or Transferring of a National Firearms Act Firearm
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; (3) require that a copy of all applications to make or transfer a firearm be forwarded to the chief law enforcement officer (CLEO) of the locality in which the maker or transferee is located; and (4) eliminate the requirement for a certification signed by the CLEO.
So, the NFA trust is not going away. The effect of the new rules will largely depend on the definition of responsible person. If this the settlor only, them that is one thing. If ALL trustees are considered RPs, then the rule will have a much larger affect on the trust.
We will have to wait and see for a few more days.
What can be done? It's time to start getting the TSRA, the NRA involved in fighting this. it's time to start calling and emailing all of our congress critters and warning them that the Obomber administration is usurping the power of congress by back dooring anti-gun legislation and exceeding the authorit of the executive branch.
Sean Cody
Attorney
281-451-4175