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NRA files for bankruptcy, seeking to leave New York and reincorporate in Texas

Added 01-15-21 07:17:02pm EST - “The gun rights organization was chartered in New York in 1871” - Theblaze.com

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Posted By TheNewsCommenter: From Theblaze.com: “NRA files for bankruptcy, seeking to leave New York and reincorporate in Texas”. Below is an excerpt from the article.

The National Rifle Association has filed for Chapter 11 bankruptcy, as it seeks to leave New York and reincorporate in Texas, the gun rights organization announced Friday.

The NRA "will restructure the Association as a Texas nonprofit to exit what it believes is a corrupt political and regulatory environment in New York," the group wrote in a press release.

The announcement comes months after New York Attorney General Letitia James (D) sued the NRA in an effort to dissolve the organization entirely over allegations of fraud and misuse of donor funds.

James mocked the NRA over the news, tweeting, "The @NRA's claimed financial status has finally met its moral status: bankrupt. While we review its bankruptcy filing, we will not allow the @NRA to use this or any other tactic to evade accountability and my office's oversight."

William Brewer III, an attorney representing the NRA in some of its legal battles, said in a statement, "Under this plan, the Association wisely seeks protection from New York officials who it believes have illegally weaponized their powers against the NRA and its members." He added, "The NRA will continue to fight to protect the interests of its members in New York - and all forums where the NRA is unlawfully singled out for its Second Amendment advocacy."

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