Synopsis
Every Federal Firearms Licensee (FFL) is required by federal law to keep and maintain an “Acquisition and disposition Record (A&D), commonly known as the “Bound Book” The Bound Book tracks all firearms entering and leaving the business. See 27 CFR § 478.125(e). This Bound Book is an on-going inventory of firearms handled by the FFL. SS1 for SB 300 creates a state-level system which duplicates in every operable way the federal “Bound Book” system and also serves as an on-going, duplicate inventory system. See Lines 254 through 260 of the original. Additionally, SS1 for SB 300 requires that the FFL conduct and record a monthly inventory. This amendment takes a more reasonable and less burdensome approach by requiring inventories to be conducted “at least quarterly.” Note that SS1 for SB 300 already requires such inventory information to be transmitted to DSP twice per year. (See Lines 264-266 in the original).