New Rules for Gun Dealers Losing Licenses
This bill changes the rules for people who lose their federal license to sell or make guns. It stops them from moving their business guns into their personal collection or selling them to unlicensed people after their license is revoked or denied.
Key points
If a gun dealer loses their license, they cannot keep their business guns for themselves or give them to employees.
After losing their license, they must transfer their remaining business guns only to other licensed dealers or law enforcement.
Breaking these new rules can lead to fines or prison time.
Notices about losing a license will now clearly explain these restrictions.
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