The claim is that a firearm must be held for 48 hours by a private owner before being resold.
I had an 01 FFL 30 years ago and hold a C&R license now. I've been buying and selling firearms occasionally for all of the unlicensed portions of my adult life.
I have also tried searching the Federal Firearms Regulations Reference guide for 'engaged in the business' looking for criteria. I could find nothing except the definition I pasted below.
I have heard, but can't presently document, that selling 'x' number of guns within a certain period could be held to be 'engaged in the business'.
I have never heard of a requirement to own a gun for a specified period before it could be resold.
If true, this is a trap that any of us that attend gun shows could fall victim to.
For that reason, I thought I would ask if the knowledgeable folks here could verify or discredit this.
Section 923(a), Title 18, U.S.C., provides that no person shall engage in the business of dealing in
firearms until he has filed an application and received a license to do so. Section 22(a)(l), Title 18,
U.S.C., provides that it is unlawful for any person, other than a licensee, to engage in the business of
dealing in firearms. Licensees generally may not conduct business away from their licensed premises.
The term "dealer" is defined at 18 U.S.C. Section 921(a)(ll)(A) to include any person engaged in the
business of selling firearms at wholesale or retail. The term "engaged in the business" as applied to a
dealer in firearms means a person who devotes time, attention, and labor to dealing in firearms as a
regular course of trade or business with the principal objective of livelihood and profit through the
repetitive purchase and resale of firearms. A dealer can be "engaged in the business" without taking title
to the firearms that are sold. However, the term does not include a person who makes occasional sales,
exchanges, or purchases of firearms for the enhancement of a personal collection or for
