I'm hoping that someone can help me with the following questions...
I'm considering purchasing an Arsenal SLR 101 from an individual.  Am I required to register this transaction with the fed. govt?  Or register the rifle in anyway? I live in TN and I dont believe that there are state requirements

Also - what constitutes a legal AK-47. The firearm that I going to buy is almost new and hasnt been altered and is semi-automatic but I dont know if there are other requirements to be considered legal.
Thanks.

Unless the weapon is capable of fully automatc fire, there is no federal registration.

Well, maybe . . .

Fed law does NOT allow private sales across state lines.

If the person is not a resident of the same state as you are, you will have to do the transaction thru an FFL in any state. Thus, a 4473 and NICS would be required.

If you are both in the same state, the Feds are out of the picture and you just need to comply with your state's laws.

Thanks.  In this case both of us are in the same state.  I appreciate the comments.  I just wanted to make sure that I stayed legal.  When you read the BATF letters, forums, etc. on the web concerning gun laws you can go from understanding the law ...to what are they talking about? and back again every 5 min.

I'm probably going to buy this AK and replace the thumbhole stock.  And that opens up what seems to me to be a ridiculous can of worms for 922r compliancy.  But 75 websites and 4 hrs. later I think that I finally understand what else I will need to replace to remain compliant.

You guys are very informative.
Thanks.