(1) No person in this state may manufacture, possess, purchase, sell, or otherwise transfer any assault weapon or large capacity magazine except as authorized in this section.
(2) Subsection (1) of this section does not apply to any of the following:
(a) The possession of an assault weapon or large capacity magazine by a person who legally possessed the assault weapon or large capacity magazine prior to the effective date of this section, or possession of an assault weapon or large capacity magazine by a person who, on or after the effective date of this section, acquires possession of the assault weapon or large capacity magazine by operation of law upon the death of the former owner who was in legal possession of the assault weapon or large capacity magazine. A person who legally possesses an assault weapon or large capacity magazine under this subsection (2)(a) may not sell or transfer the assault weapon to any other person in this state other than to a licensed dealer, to a federally licensed gun smith for the purpose of service or repair, or to a law enforcement agency for the purpose of permanently relinquishing the assault weapon or large capacity magazine;