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Pre may sample in LLC


Ken In VA.
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The LLC is the owner, as long as the owner of the NFA item is "alive" the NFA item may be possessed by that owner even after the owner gives up his SOT and FFL just like a Sole Proprietor. The only thing you have to give up is Post Samples when you give up your SOT.

Edited by b_san
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39 minutes ago, b_san said:

The LLC is the owner, as long as the owner of the NFA item is "alive" the NFA item may be possessed by that owner even after the owner gives up his SOT and FFL just like a Sole Proprietor. The only thing you have to give up is Post Samples when you give up your SOT.

Just like b_san stated as long as the LLC is kept in an active status under the state to which it is organized the weapons can be retained.

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So that means don't be an idiot and "kill" your corperation while NFA items are still in it.  There was a case of this happening recently and now a nice transferable Colt Thompson is about to get the torch because technically no one has owned it for nearly 10 years due to the LLC having been disolved.

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If you're in a non MG state and no longer have a license you'll probably have to get rid of any MG's since being federally licensed was your only exemption.  There are still some guys who were "grandfathered" before the state laws changed, but they get fewer as the days go on.

Never any reason to dissolve a corp. with assets.  You can sell the corp. and gun instantly without even messing with a transfer.  You also don't need to be alive.

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23 hours ago, Got Uzi said:

So that means don't be an idiot and "kill" your corperation while NFA items are still in it.  There was a case of this happening recently and now a nice transferable Colt Thompson is about to get the torch because technically no one has owned it for nearly 10 years due to the LLC having been dissolved.

WHAT?!?!

I thought ATF has worked with people in the past on registered guns that weren’t properly transferred I.E. If someone found a registered MG a uncle, ect had in a closet but died 20-30 years ago and the estate was already closed out. 
 

Has this person retained a attorney to try to fight them on it?
 

It would be horrifying to see a transferable meet the torch.   

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18 hours ago, johnsonlmg41 said:

If you're in a non MG state and no longer have a license you'll probably have to get rid of any MG's since being federally licensed was your only exemption.  There are still some guys who were "grandfathered" before the state laws changed, but they get fewer as the days go on.

Never any reason to dissolve a corp. with assets.  You can sell the corp. and gun instantly without even messing with a transfer.  You also don't need to be alive.

Keep the license.. Just the SOT is gone in a non friendly state.

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22 minutes ago, Saab95v6 said:

IHMO , one can only keep a Pre May 86 dealer sample if you purchased it as a sole proprietor. Every other entity has to either sell or give it up.

Fortunately, you are incorrect.  I have a pre-may gun and pre- may suppressor after giving up that specific license that is was registered to.  Not to worry, that corp exists in perpetuity IIRC. vs. people who die and leave messes behind.   A corp. is the same as a person.

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13 hours ago, Saab95v6 said:

IHMO , one can only keep a Pre May 86 dealer sample if you purchased it as a sole proprietor. Every other entity has to either sell or give it up.

Yup johnsonlmg41 is right.. FFL under a business can keep a premay. Not sure why you think a sole proprietor would be the only one you think can keep it when giving up the SOT.

My thoughts are more about state legality. Are they allowed to keep it without a SOT, but keeps their FFL, in a state that bans MGs. 

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