NRA Files for Bankruptcy Protection

[Gman]

https://www.wsj.com/articles/nationa...cy-11610746812

he National Rifle Association filed for bankruptcy protection and said it plans to restructure itself as a Texas nonprofit, the latest twist in its legal battle with New York Attorney General Letitia James.

The gun-rights group, which has been a New York-registered nonprofit since 1871, said it was taking the measures ?to exit what it believes is a corrupt political and regulatory environment in New York.?

The New York attorney general?s office, which oversees the state?s charities bureau, filed a lawsuit last August seeking to dissolve the NRA, alleging that insiders violated the state?s nonprofit laws by illegally diverting tens of millions of dollars from the group through excessive expenses and contracts that benefited relatives or close associates.

The NRA has denied the allegations.

The NRA filed a chapter 11 bankruptcy petition Friday in U.S. Bankruptcy Court for the Northern District of Texas, court documents show, listing both assets and liabilities of $100 million to $500 million.

The documents show the NRA?s board authorized the chapter 11 petition and reorganization at a meeting on Jan. 7. The NRA said it would seek court approval to reincorporate in Texas.

A spokesman for the New York attorney general?s office had no immediate comment.

The news I cared to read about the organization was not mentioned. Until Wayne is gone and the leadership is cleaned up, they're dead to me.

[00tec]

Is that because the
National RIFLE association
Won't stand up for a PISTOL? (Brace)

They lost my respect long ago. We haven't heard a peep from these douchebags for years, considering the laws that have been presented. But if you tug at a few heartstrings, they dump a grand of NERF on a kid, simply to look pretty for the masses

[leightoncash]

The overt fear mongering and manipulation in their mailers tells me pretty much everything I need to know about the NRA. Their spiel for years has been, "give us your money or they'll take your guns", which is an awful lot like mobsters demanding protection money from a business.
Its such a shame that a righteous cause like the 2A doesn't have a more principled, well known organization behind it.

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