From: http://www.ar15.com/content/articles/primer/
5. But I Want A Pre-Ban Rifle
IT IS VERY IMPORTANT TO NOTE THAT A LOWER RECEIVER WITH SERIAL NUMBER WHICH DENOTES MANUFACTURING PRIOR TO SEPTEMBER 1994 DOES NOT NECESSARILY PERMIT YOU TO LEGALLY BUILD A RIFLE WITH PRE-BAN FEATURES!
A...
Will self-built rifles be legal? In the last ban, the factories had to attest that they had assembled a particular serialized lower-- and you could do anything you wanted afterwards. What do you think about the status of all these lowers selling for an arm and a leg?
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