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 NRA files for bankruptcy, says it will reincorporate in Texas

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RR Phantom

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NRA files for bankruptcy, says it will reincorporate in Texas Vide
PostSubject: NRA files for bankruptcy, says it will reincorporate in Texas   NRA files for bankruptcy, says it will reincorporate in Texas Icon_minitimeSat Jan 16, 2021 5:02 pm

The National Rifle Association on Friday filed for bankruptcy protection as part of a restructuring plan aimed at moving the influential gun rights group to Texas.

NRA files for bankruptcy, says it will reincorporate in Texas 106352524-1579817491665gettyimages-540937888

The filing comes six months after New York state’s attorney general filed a lawsuit seeking to dissolve the NRA for allegedly misappropriating funds.

The advocacy group said that 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 NRA, which said it was not financially broke, filed for protection under Chapter 11 in U.S. Bankruptcy Court in Dallas.

In its filing, the group said it has assets of between $100 million and $500 million, and liabilities in the same dollar range.

https://www.cnbc.com/2021/01/15/nra-files-for-bankruptcy-says-it-will-reincorporate-in-texas.html
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NRA files for bankruptcy, says it will reincorporate in Texas

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