I'm afraid you are absolutely not correct (but thank you for linking the text so that I can prove you wrong!).
Check Section 3, paragraph 4(f)(ii). It specifically exempts loaning your gun out at a firing range from the law.
barfo
(ii) if the temporary transfer occurs,
and the
firearm is kept at all times, at an established shooting range
authorized by the governing body of the jurisdiction in which such
range is located;
Only applies on "government authorized" shooting ranges. This "allowance" would only apply to a tiny fraction of gun transfers, far less than a single percent of them. It would be a felony for me to hand off a gun to my wife in the midst of a home invasion. It would be a felony for my hunting partner to carry my rifle back to camp for me if I broke my ankle. It would be a felony for me to transport my gun in my friend's car trunk.
These exemptions are for people who only have guns as "shooting toys". People who like to shoot targets, like it's a video game, and have disposable income to blow on the "privilige".
privilege n. a special benefit, exemption from a duty, or immunity from penalty, given to a particular person, a group or a class of people.
First off, few gun owners ever go to a "government authorized" shooting range because there's no such thing in most areas and there's no reason to go there if there was one in their area.
Secondly, governments may "unauthorize" anything at the drop of a hat and without a vote of the people, so this is an empty carrot on a stick for you toy-shooters in order to buy your vote.
Third, The Second Amendment was written and ratified to prevent infringements like this from ever being considered, suggested, or imagined.
There is no such thing as a valid gun control law, regulation, or rule, in America. They are all Un-Constitutional attempts at overthrowing America by gradually disarming the populace and will be treated as such by all Real Americans.