In regards to this statement...
It may be objected that if weapons that are most useful in military service—M-16 rifles and the like—may be banned, then the Second Amendment right is completely detached from the prefatory clause.
it's worth noting that M-16's aren't banned. You have to jump through a few more hoops, and they are quite expensive (as are the rounds), but they are not banned.
Automatic weapons are "Class III" weapons, and are titled much like cars are. Most firearms dealers do not have a Class III FFL. The title transfer fee is hundreds of dollars, and you need written permission from your local police chief or county sheriff.
1. A registered owner of an NFA firearm may apply to ATF for approval to transfer the firearm to another person residing in the same State or to a Federal firearms licensee in another State;
2. An individual may apply to ATF for approval to make and register an NFA firearm (except for a machine-gun); or
3. An individual may inherit a lawfully registered NFA firearm.
***Sorry for all the separate posts today...I really do know how to multiquote, I swear.