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The company filed for bankruptcy in Texas court on Friday.
The National Rifle Association has announced plans to restructure into a Texas-based nonprofit and filed for Chapter 11 bankruptcy protection.
“This move will enable long-term, sustainable growth and ensure the continued success of the NRA as the country’s leading advocate for constitutional freedom – safe from New York’s toxic political environment,” the group said on Friday. defense of firearms in a statement.
The NRA added that it had been incorporated in New York for about 150 years.
“This strategic plan represents a path to opportunity, growth and progress,” said Wayne LaPierre, CEO of the NRA, in a statement. “Obviously, an important part of this plan is to ’empty New York.’ The NRA continues to reincorporate into a state that values the contributions of the NRA, celebrates our law-abiding members and will join us as a partner. to defend constitutional freedom. “
LaPierre called Friday’s decision a “transformative moment in NRA history.”
The move comes after the NRA was sued by New York Attorney General Letitia James last August in an attempt to disband the group.
James accused the NRA of a series of “illegal conduct”, according to a press release at the time describing the trial, including “[the] embezzlement of millions of dollars from the organization’s charitable mission for personal gain by senior management, awarding contracts for the financial benefit of close associates and family, and appearing to hand out lucrative no-show contracts to alumni employees in order to buy their silence and continued loyalty. “
The NRA has filed a counterclaim, calling the initial lawsuit politically motivated.
James responded to the news of the bankruptcy in a statement on Friday, saying: “The financial status claimed by the NRA has finally reached its moral status: bankrupt.”
“While we are reviewing this file, we will not allow the NRA to use this or any other tactic to escape the responsibility and oversight of my office,” added James.
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