https://www.atf.gov/file/100896/download
Some good news, no CLEO signoff
So what is changing? Im not so good with the legal speak!
From what I read it sounded like a good thing.....but like I said, not so good with the legal mumbo jumbo!
sent from: wait, where am I!?
The major points that I see are that CLEO certification is now replaced with CLEO notification, and that responsible persons of a Trust can, but generally won't, be beneficiaries. From the document:
"The Department anticipates, for example, that persons who have used a trust in the past to avoid the CLEO certification
requirement may well choose to acquire future NF A firearms as individuals once the CLEO certification requirement has been modified to a notification requirement, thereby diminishing the overall need for legal counsel among makers and transferees."
There is nothing good here
ELIMINATION of CLEO SIGNOFF is massive good.
It isn't a win. We didn't gain anything.
There is nothing good here. Then saying they are going level 100 then just going level 80 is not a win.
Also I think it is on page 42, they say, yeah yeah yeah, we know NFA weapons are statistically never used in crime, but they could be and that'd be REAL bad!
Huh? Today individuals need CLEO signoff, 6 months from now they don't. How is that not a win?
Also I think it is on page 42, they say, yeah yeah yeah, we know NFA weapons are statistically never used in crime, but they could be and that'd be REAL bad!
I read that part as well - using rejection information included in the report, 0.11% of the applications were denied in 2014. So to correct this problem, we'll include the requirement for all named personnel in a trust to have photos and fingerprints (at $29.98 cost each listed) and it's going to cost 0.5 manhour longer for the background for each transfer (based on 2 responsible persons). So....there's realistically and statistically not a problem since the process is working. But to correct (?) this, we'll make the process more convoluted and expensive.
As a second point - what recognized trust has two responsible persons as defined in this article?
Huh? Today individuals need CLEO signoff, 6 months from now they don't. How is that not a win?
Current process - trust and LLC do not require CLEO signoff. In six months, trust and LLC will require all 'responsible persons' to have photos and fingerprints - same as individual - and all of the current benefits of a trust are negated.
Because now you need CLEO background check + fingerprints for individuals and for EVERYONE involved in a trust/corporation.
CLEO Background check? What is that? CLEO is out of the picture now, other than dropping a note saying look what I am getting!
Current process - trust and LLC do not require CLEO signoff. In six months, trust and LLC will require all 'responsible persons' to have photos and fingerprints - same as individual - and all of the current benefits of a trust are negated.
Not nearly all. Trusts have value outside of acquisition of NFA items. Note that there also appears to be no rule about adding/changing trustees, but it was "looked at" (having to get them background checked to do so). I'm betting that's because it would interfere with many state laws about trustee actions, so they stayed away.
He wrote:
It isn't a win. We didn't gain anything.
CLEO ELIMINATION is a WIN. PERIOD.