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David, this law is exactly as stated Sir. A Pistol Purchase Permit or Concealed Carry License is required for an easier/immediate take posession handgun purchase. If not your transferring FFL will need to do the background check and paperwork which you will not walk out with the Pistol until completed which could take a few days. Pistol Purchase Permit or CCL just have already included this approval process and you are essentially pre-approved so you take the handgun immediately.
buds will sell it to you and you will be required to give your pistol purchase permit to the transferring FFL when you pick up the pistol you will get the PPP from your local sheriffs department