New York City, New York – Just six months after the state Attorney General, Letitia James, sought to dissolve the National Rifle Association (NRA) with a lawsuit that alleged the organization misappropriated funds.
The NRA filed for Chapter 11 bankruptcy protection to help restructure and relocate the organization to Texas. Currently headquartered in Fairfax, Virginia, the NRA was founded in New York City in 1871. Known as the country’s oldest civil rights group, the NRA states that it has between the value of $100 million to $150 million and liabilities of the same dollar amount.
The move to Texas appears to be a strategic move to try to avoid dissolvement within the state of New York.
READ MORE: NRA files for bankruptcy, says it will reincorporate in Texas