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To clarify, being an owner of several machineguns.... There is no "class 3 license." You simply fill out the paperwork (it's called an ATF form 4) get fingerprinted, submit both with $200 to the ATF and hopefully wait 3 to 6 months. If you aren't a criminal or live in a state which doesn't allow full auto weapons, you can now own the machinegun which your paperwork specifies.
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