Reading through this story, I came across the following:
When a business loses its license, it is still allowed to continue to sell firearms, Shoemaker said, to allow the store to deplete its inventory.
Ok, this I knew, but the next part?
"In a lot of ways, it was a worse situation," said Shoemaker. "They were not doing the required Brady background checks. They were not keeping records."So, once the shop was closed down, they were no longer required to do checks?
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4 comments:
I can't imagine they're allowed to sell off their remaining inventory without doing paperwork or background checks. That just doesn't make sense.
I'm not well-informed on this but I believe that a de-licensed dealer is allowed to sell all existing inventory to a properly-licensed FFL. Thus, no retail sale takes place and no background check is required.
It's not clear to me whether that was a reason for the ATF to bust them, or it was just a result of the closing.
Maybe they're considered private sales?
My understanding is that they can sell off inventory, but cannot buy more. Under at least some circumstances a dealer can transfer firearms to his private collection and then sell them, where they fall under private sale rules--I believe once the license is revoked, so is access to NICS. Google is only showing me Brady and Bloomberg referernces, so take that with a large grain of salt.
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