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As far as I know... and I admit there could be a few locations with wacky laws out there... it is not illegal to possess bolt cutters, period. It would be illegal to use them for breaking and entering, but it's the act itself that's illegal, not simply owning a fairly common tool.

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Not at all, because they're a necessary tool. You can't remove a High Security Seal from your trailer without bolt cutters, and not all receiving departments have a set. (Or if they do, they're worn out.)

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