The National Rifle Association said Friday that it filed for bankruptcy and will move to Texas, where the organization says it has 400,000 members. The NRA is currently based in New York, where the state’s attorney general, Letitia James, filed a lawsuit for financial crimes by its top officials and seeks to dissolve the organization.
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Chapter 11 bankruptcy protection haltes all judicial and legal proceedings related to debt or collection, while an organization restructures its debts.
In May 2020, the NRA, which claims to have 5 million members, fired dozens of employees and closed the fundraiser and its national convention amid the coronavirus pandemic.
The association handled weapons permits to stores and managed millions of dollars. Afp
The pause in fundraising and the lack of a national convention in a presidential election year was a major financial setback for the organization, although Americans bought a record amount of weapons at 2020.La NRA said it is being “restructured” in a state that “values NRA contributions, celebrates our law-abiding members, and will join us as a partner in defending constitutional freedom.” The NRA has been headquartered in New York since its inception in 1871.
The organization is a non-profit U.S. that defends the right to own weapons. Afp
Texas Gov. Greg Abbott tweeted the news and wrote “welcome to Texas, a state that protects the Second Amendment.” Meanwhile, the president of Everytown for Gun Safety, one of the largest organizations dedicated to reducing gun violence, called the NRA a “attempt to escape legal guilt for years of financial mismanagement and illegal self-trade.” This desperate manoeuvre is a de facto admission of guilt,” Joshua Feinblatt said in a statement.
