The bill establishes a new section in Wyoming law regarding "firearm hold agreements," which are arrangements where a firearm owner temporarily transfers possession of their firearm to another person. Under the new law, a person who returns a firearm to its owner at the end of such an agreement will not be liable for any legal actions arising from that return, except in cases where the return is due to a breach of contract or unlawful conduct by the person holding the firearm. The bill also defines what constitutes a "firearm hold agreement" and specifies that it does not apply to firearms regulated under the National Firearms Act.

The provisions of this act will apply to all firearm hold agreements made on or after July 1, 2025, and the act itself will take effect on that same date. This legislation aims to clarify the legal responsibilities and protections for individuals involved in firearm hold agreements, promoting responsible firearm management while ensuring that individuals are not unduly penalized for returning firearms as agreed.