Quote Originally Posted by lowbeyond View Post
nope

(b) AS USED IN THIS SECTION, UNLESS THE CONTEXT REQUIRES
17 OTHERWISE, "TRANSFEREE" MEANS A PERSON WHO DESIRES TO RECEIVE OR
18 ACQUIRE A FIREARM FROM A TRANSFEROR. IF A TRANSFEREE IS NOT A
19 NATURAL PERSON BUT A CORPORATION, ASSOCIATION, PARTNERSHIP, OR
20 LIMITED LIABILITY COMPANY OR TRUST, THE REQUIREMENT DESCRIBED IN
21 THIS SUBSECTION (1) SHALL BE INTERPRETED TO REQUIRE A BACKGROUND
22 CHECK OF EACH MEMBER, PARTNER, OFFICER, OR OTHER PERSON WHO
23 HOLDS A BENEFICIAL INTEREST IN THE CORPORATION, ASSOCIATION,
24 PARTNERSHIP, OR LIMITED LIABILITY COMPANY OR TRUST.
Reading the text of that, I would say that anything the trust holds before the law goes into effect is grandfathered. IE GET IT DONE NOW!!

I would also venture to guess that as long as the item/firearms stays in the trust, an added trustee would not have to have BGC's for each and every item. Because they are added to the trust, not an item added to the trust.