Armory Sponsor
Posted: 2/24/2007 4:31:49 PM EDT
| Might be transfering some items from my LLC to a Trust. I was wondering when something is on a form 1, when you transfer it does it transfers out on a form 4? |
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I will not start a new thread for a hypothetical because I'm usualy about the second person to chime in and say, "if frogs had wings they could fly and wouldn't bump their butts when the jumped" BUT, I just want to put this out there and see what happens. It is very likely that sometime in the future the gov't will put an end to MG transfers. So if you can't transfer your machinegun, I wonder if there will be a loophole that you can transfer your LLC, effectively transfering the machinegun. Makes since to me. Lawmakers may not think about that. That would make the market for LLC owned MG's be unreal. |
I've thought the same thing. that would negate a law like canada's |
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If you're concerned about that possibility, use a corporation -- they are forever. A corporation belongs to its stockholders: They elect the board of directors, who in turn are authorized to decide how the corporation's assets are used. Many major U.S. corporations owned MGs in the 1920's to protect their plants against "labor union unrest," and those MGs were registered when NFA passed in 1934. For instance, Ford Motor Co. had a ton of Thompsons, and reportedly still has many of them in storage somewhere. Most of the individuals who owned Ford stock back in 1934 are now dead; so are most members of the board of directors at that time. But the MGs are still legally registered to Ford, and if today's board of directors felt the need for some full-auto fun, they legally could locate the Ford-owned Thompsons, load 'em up and rock-and-roll. Three centuries from now, whoever is elected to Ford Motor Company's board will still be able to legally authorize use of the company's NFA assets. The stock will belong to other people, who will elect their own chosen directors, but they will still be legally owned by the exact same corporation which registered them in 1934. |
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