"Shockwave" concealed?

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That's going to depend on state law. My state, for example, forbids carrying concealed handguns without a license, but has no laws regulating concealed long guns (other than that loaded long guns in cars are prohibited, with or without a permit, concealed or not).
 
From the ATF FTB letter to Mossberg 02 Mar 2017:
p.2 "The weapon, as described above, is a "firearm" subject to GCA provisions; however, it is not a "firearm" as defined by the NFA. Please note that if the subject firearm is concealed on a person, the classification with regard to the NFA may change."
And in ref to the exact sample submitted for ATF Firearms Technology Branch approval:
p.4 "The Mossberg, model 590, serial number V0348718 as described above, is a "firearm" subject to GCA provisions; however, it is not a "firearm" as defined by the NFA. Please note that if the subject firearm is concealed on a person, the classification with regard to the NFA may change."
Legality of the Shockwave may also vary under state or local law, and there are limitations on use, where, when and how, even in jurisdictions where the gun is legal.
 
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