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NRA declares bankruptcy, says it will reincorporate in Texas


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NRA declares bankruptcy, says it will reincorporate in Texas

The National Rifle Association said Friday it has filed for Chapter 11 bankruptcy and will seek to reincorporate in Texas, calling New York, where it is currently registered, a "toxic political environment."

The big picture: The move comes just months after New York Attorney General Letitia James filed a lawsuit to dissolve the NRA, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.

    The NRA then sued James in federal court, accusing her of violating its right to free speech.

    Karl Racine, attorney general for Washington, D.C., filed a separate lawsuit in August against the gun lobby and its foundation "for misusing charitable funds to support wasteful spending by the NRA and its executives."

What they're saying: "Today, the NRA announced a restructuring plan that positions us for the long-term and ensures our continued success as the nation’s leading advocate for constitutional freedom – free from the toxic political environment of New York," the NRA's Wayne LaPierre said in letter to members and supporters Friday.

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Another business is leaving New York because of political reasons, just don't take any liberals to Texas.

 

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42 minutes ago, MovieMadness said:

NRA declares bankruptcy, says it will reincorporate in Texas

The National Rifle Association said Friday it has filed for Chapter 11 bankruptcy and will seek to reincorporate in Texas, calling New York, where it is currently registered, a "toxic political environment."

The big picture: The move comes just months after New York Attorney General Letitia James filed a lawsuit to dissolve the NRA, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.

    The NRA then sued James in federal court, accusing her of violating its right to free speech.

    Karl Racine, attorney general for Washington, D.C., filed a separate lawsuit in August against the gun lobby and its foundation "for misusing charitable funds to support wasteful spending by the NRA and its executives."

What they're saying: "Today, the NRA announced a restructuring plan that positions us for the long-term and ensures our continued success as the nation’s leading advocate for constitutional freedom – free from the toxic political environment of New York," the NRA's Wayne LaPierre said in letter to members and supporters Friday.

*******************************************************

Another business is leaving New York because of political reasons, just don't take any liberals to Texas.

 

Easier to be a corrupt corporation in Texas than it is in New York.     That is why they are leaving.   LaPierre had a hand in the cookie jar.    In Texas he can have both hands in there.

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