Like everyone else has already said, it is considered unloaded with the cap off. My ML gets loaded at the beginning of open season (I rarely take my shotgun out anymore) and the only time it gets unloaded is if I am not going to hunt for a long time, say a week or so, otherwise it stays loaded all season long. I never bring it in the house once the season starts so it doesn't warm up and condense. I leave it in my unheated barn until the end of ML season.

Good luck with your new ML, and have fun! There is just something different about hunting when you know you only get one shot so you better make it count! Like I said, my shotgun started collecting a lot of dust when I got my first ML several years ago.