Bankruptcy Exemption for Firearms Passed

NRA-ILA :: NRA-Backed "Protecting Gun Owners In Bankruptcy Act of 2010" Passes U.S. House. Excerpt: 

This week, by a margin of 307-113, a bipartisan majority of the U.S. House of Representatives voted to amend the federal definition of “household goods” to protect firearms from creditors in bankruptcy proceedings. NRA-supported H.R. 5827, offered by U.S. Representative John Boccieri (D-Ohio), would ensure that a person who files for bankruptcy would not lose the constitutionally protected means of protecting his or her life, family, and home. The bill sets a cap of $3,000 on the value of a firearm collection eligible for the protection, so people in bankruptcy proceedings can continue to own serviceable firearms. The Senate companion bill is S. 3654, sponsored by Sen. Patrick Leahy (D-Vt.).

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