NRA files for bankruptcy, says it will reincorporate in Texas

The National Rifle Association said Friday that it has filed for bankruptcy in U.S. court as part of a larger restructuring plan aimed at moving to Texas.
The gun-rights advocacy group said it would restructure as a Texas nonprofit to exit from what it described as “a corrupt political and regulatory environment in New York,” where it is currently registered.
Last year, New York Attorney General Letitia James announced that the state was seeking to dissolve the NRA in a lawsuit that accused the organization’s leadership of diverting millions for their own personal use, resulting in a $64 million loss to the organization.

WASHINGTON – The National Rifle Association said Friday that it has filed for bankruptcy in U.S. court as part of a larger restructuring plan aimed at moving to Texas after New York state had sought the organization’s dissolution for allegedly misappropriating funds.

The gun-rights advocacy group said it would restructure as a Texas nonprofit to exit from what it described as “a corrupt political and regulatory environment in New York,” where it is currently registered.

“The plan can be summed up quite simply: We are DUMPING New York, and we are pursuing plans to reincorporate the NRA in Texas,” wrote NRA CEO and executive vice president Wayne LaPierre, adding that the move will have “no major changes are expected to the NRA’s operations or workforce.”

In his statement Friday, LaPierre said that the NRA is not insolvent and the move to Texas would make the organization stronger. “We are as financially strong as we have been in years,” he said.

He added that the organization has no plans at this time to move the NRA headquarters from Fairfax, Virginia.

Last year, New York Attorney General Letitia James announced that the state was seeking to dissolve the NRA in a lawsuit that accused the organization’s leadership of diverting millions for their own personal use, resulting in a $64 million loss to the organization.

“The NRA’s influence has been so powerful that the organization went unchecked for decades while top executives funneled millions into their own pockets,” James said in August. “The NRA is fraught with fraud and abuse, which is why, today, we seek to dissolve the NRA, because no organization is above the law,” she added.

James is asking the court to dissolve the NRA and require each of the current and former executives named in the suit to pay full restitution.

NRA president Carolyn Meadows said in a statement at the time, that the suit is “a baseless, premeditated attack on our organization and the Second Amendment freedoms it fights to defend.”

The suit is another step in a long-running battle between New York and the gun-rights group, which has been chartered in the state since 1871.

Garryowen

So, I'm curious...this "restitution" the demented attorney is speaking of...where is she thinking it would go? To the dues-paying NRA members and supporting donators, where the money would have actually came from...or is she implying the state of New York is due these funds? (is she implying the state of New York was funding, of all things...the NRA? and was "wronged") LOL

To clarify: This is all rhetorical, illustrative thinking...just in case.

They should of picked SD not sure how long Texas will remain red the way they are going.

Mark June was gonna bless it for us too!

They should move their headquarters also.

Sounds good to me.

Very bad timing if you ask me. IMO the NRA has needed restructuring for a long time. Way to many board member, paying large amounts of money to a large number of people at the top. Way to long in coming.

Anyone know what this is about?

Last year, New York Attorney General Letitia James announced that the state was seeking to dissolve the NRA in a lawsuit that accused the organization’s leadership of diverting millions for their own personal use, resulting in a $64 million loss to the organization.

Fake news media.I don't believe nothing I hear from them about 2A.

Do you know anything about Letitia James and the her anti NRA rhetoric?

IMO, it's about liberals trying to destroy the most powerful pro-gun lobby in America.

What do you think it's about?

Funny they never worry about where BLM money is going or who is taking it home with them or any other zillion 'group' ran by liberal democrats. Doesn't matter, with the new communist regime in charge they shouldn't have any problem doing away with NRA , conservatives or anyone who dares oppose the knowing all seeing all communist ran state we are to live in from now on.

Elections have consequence's and never let a good crisis (covid 19) go to waste!

The irony to me is that she is, by her statement, pretending to be concerned that the organization "lost" money, as if she is somehow doing them a favor...by dissolving them and disbanding them Wouldn't the appropriate legal action be to go after the "known" guilty parties, in order to cleanse the Good organization and stop their loss of funds?

I guess I don’t understand how a judge can disband an organization when haven’t been found guilty of a crime?

Nope. Seeing she's from NY I would assume she's no friend but that's quite the statement to make and I did hear there was issues last year with Leperrier

True

Hope I'm still a Life Member
I'll keep Supporting them!!!

When they move to Texas, how can Letitia James and New York disband them? Sounds like a smart move claiming bankruptcy if a lawsuit is coming.