Just in via press release:
The National Rifle Association of America (“NRA”) today announced it will restructure the Association as a Texas nonprofit to exit what it believes is a corrupt political and regulatory environment in New York.
The move will enable long-term, sustainable growth and ensure the NRA’s continued success as the nation’s leading advocate for constitutional freedom – free from the toxic political environment of New York.
The NRA plan, which involves utilizing the protection of the bankruptcy court, has the Association dumping New York and organizing its legal and regulatory matters in an efficient forum. The move comes at a time when the NRA is in its strongest financial condition in years.
The NRA will continue with the forward advancement of the enterprise – confronting anti-Second Amendment activities, promoting firearm safety and training, and advancing public programs across the United States. There will be no immediate changes to the NRA’s operations or workforce.
The actual breaking news here: “To facilitate the strategic plan and restructuring, the NRA and one of its subsidiaries have filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division.”https://t.co/bveflaTSpA https://t.co/Wzw9jK6wQt
— Shane Goldmacher (@ShaneGoldmacher) January 15, 2021
The NRA is declaring bankruptcy, leaving NY, and reincorporating in Texas. https://t.co/XCLDb3SOxM
— Andrew Schneider (@ASchneider_HPM) January 15, 2021
2021 flexes hard: 11 days after right-wing insurrection in the capital, NRA declares bankruptcy.
It's only Jan 15. https://t.co/ueg35qTtXL
— David Kurtz (@TPM_dk) January 15, 2021
— Aziz Gilani (@TexasVC) January 15, 2021