The proposed bill aims to establish legal protections for federal firearms licensees who enter into firearm hold agreements with individual firearm owners. It introduces a new section to the Arkansas Code, specifically 16-120-805, which defines key terms such as "federal firearms licensee," "firearm," and "firearm hold agreement." Under this agreement, a federal firearms licensee can take possession of a firearm from an individual at their request, hold it for a specified period, and return it according to the agreed terms.

Importantly, the bill provides civil immunity to federal firearms licensees for any acts or omissions related to these agreements that result in personal injury or death, including the return of the firearm to the owner. However, this immunity does not extend to situations where the licensee's actions are deemed unlawful. This legislation seeks to encourage responsible firearm storage and handling while protecting licensees from potential legal repercussions.