NRA filing for bankruptcy, moving from New York to Texas

Source: The Hill | January 15, 2021 | Alex Gangitano

President Donald Trump declared Washington’s intention to pull out of the Open Skies Treaty in May.

The National Rifle Association (NRA) has filed for bankruptcy and will reincorporate in Texas, the gun rights advocacy group announced Friday. 

The NRA, which is based in New York, said it’s exiting “what it believes is a corrupt political and regulatory environment in New York” and will restructure as a Texas nonprofit. Its plan, it said, “involves utilizing the protection of the bankruptcy court.” 

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The news follows a lawsuit from New York Attorney General Letitia James (D) in August that alleges the NRA violated state law governing nonprofit organizations, contributing to a loss of more $64 million over three years.

The civil suit also claimed that the group and four of its top officials, including LaPierre, diverted millions of dollars away from its charitable mission.

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