Quote History Quoted:
I knew about the child safety lock laws, was just curious how the check list inspection goes.
Ive always done paper 4473, with both an old paper and electronic log book with a POS system. Is the new 4473 electronic forms better/faster/cooler? Does anyone use them or use the old school paper?
Now a NFA/Class 3 dealer question- if i get a 07 ffl, then a II SOT, what happens to any samples i make or aquire if i disolve the FFL? Im getting some conflicting info, if its LLC, or just me, etc.
View Quote
As stated, secure storage is not a part of the inspection.
You are bringing up different things when you start talking electronic. You can be digital or paper on 4473 forms, actually submitting the background check (and receiving the subsequent NICS response), POS/inventory, and bound books. Those are all (or
can all be) separate things. There are some computer programs which can integrate them. Most FFLs still use paper 4473s because they're free. Even if you go digital, they must be printed physically.
You do not "dissolve" FFLs. You just cease operations and "fail to renew" a FFL (and/or SOT). That's when you don't want that FFL to be in the gun business anymore. A FFL may fail to renew their SOT and remain in the gun business. Prior to that occurring, the FFL must dispose of any post-86 dealer sample MGs registered to it. This must occur before the SOT lapses. Any other Title II firearms may be retained by the FFL.
The business holds the FFL. That business may be a LLC. Before dissolving a LLC, the assets have to be disposed of. In the case of firearms, this requires a transfer. So if you want the business (LLC) to give up its FFL/SOT status, but keep the guns, then the LLC must continue to exist. It may continue to own all the guns (except post-86 MGs, as noted above). The LLC cannot conduct firearms business without having a FFL (same as anyone else). Owning/using the guns is fine (same as anyone else).
If your business is a sole proprietorship (not a LLC) and you cease operations and terminate your FFL, then you personally own all the inventory (just as you did while you were in business). This is the only way to end up owning pre-86 dealer samples personally without a transfer.
There cannot be a transfer of a pre-86 dealer sample to anyone except a current FFL/SOT (or LE).
You personally cannot
be a current FFL/SOT unless
you are a sole proprietor with the FFL/SOT in your name.