The NRA announced Friday morning that it has filed for bankruptcy protection and will seek to incorporate the nation’s most politically influential gun-rights group and move to Texas instead of being based in New York.
Public Records for the NRA
The NRA’s bankruptcy filing listed between $100 million and $500 million in assets and between $100 million and $500 million in liabilities.
The NRA has been around for more then 200 years founded in 1871. The NRA has millions of club members around the United States.
The Association will seek court approval to reincorporate the Association in the State of Texas – home to more than 400,000 NRA members and site of the 2021 NRA Annual Meeting in Houston.
“This strategic plan represents a pathway to opportunity, growth and progress,” says NRA CEO & EVP Wayne LaPierre. “Obviously, an important part of this plan is ‘dumping New York.’ The NRA is pursuing reincorporating in a state that values the contributions of the NRA, celebrates our law-abiding members, and will join us as a partner in upholding constitutional freedom. This is a transformational moment in the history of the NRA.”
The restructuring plan aims to streamline costs and expenses, proceed with pending litigation in a coordinated and structured manner, and realize many financial and strategic advantages.
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