I am still trying to find this "loophole" that y'all keep referring to.
The use of a trust and/or corporation for NFA items was outlined in the original Act. I fail to see how this is a loophole.
Now, if there is a way to get NFA goodies without waiting 6-36 weeks, paying $200.00 to the goobermint, and spend my kids college fund...that's my idea of a loophole.
In 1934, just whom held trusts and corporations? It wasn't the common man. To me, that is a measure of a loophole since it allows you to circumvent counties that do not sign off on Form 4s. If no one in Travis Co. will sign off on my Form, then I cannot possess the item, but if I hold a trust or corporation, then I can obtain the item via that route. There's a reason why they enacted that requirement on the individual side of things, and omitted it on the trust and corporation.