In addition to what Snyper wrote, in the interest of being thorough...
Quote:
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Originally Posted by wgsigs
First, someone mentioned the FFL entering the gun in his book. Is this a requirement when he first receives the gun, or when he completes the transfer? Is there a grace period like 48hrs or 72hrs if it is related to the receipt of the gun?
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There is a grace period for recording acquisitions and dispositions. It's spelled out in 27 CFR § 478.125(d) and summarized in the ATF FAQ:
http://www.atf.gov/firearms/faq/lice...-required.html
Quote:
Q: How much time does a dealer have to record acquisitions and dispositions of firearms in his or her “bound book?”
A: Generally, licensees have to enter the acquisition or purchase of a firearm by the close of the next business day after the acquisition or purchase and shall record sales or other dispositions within 7 days.
However, if commercial records containing the required information are available for inspection and are separate from other commercial documents, dealers have 7 days from the time of receipt to record the receipt in the “bound book.”
If a disposition is made before the acquisition has been entered in the “bound book, the acquisition entry must be made at the same time as the disposition entry.
[27 CFR 478.125]
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However, Snyper is correct that any and every firearm formally received by the dealer MUST be recorded in the bound book. The grace period only affects
when the record must be made-
not if.
[
Mandatory disclaimer: I am not an attorney, nor do I play one on TV.
This is not legal advice. Caveat emptor.]