Despite filing for bankruptcy last month the National Rifle Association (NRA) says it in the strongest financial position in years. The influential gun rights advocacy group announced it was planned to re-incorporate in Dallas, TX from New York where the organization has been incorporated for 150 years. New York has also filed a petition to dissolve the group, a decision which prompted the organization to file for relief in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division.
“Is the NRA going “bankrupt?” a Q&A section on the gun lobbying group’s website read.
The NRA’s response: “No. In fact, this move comes at a time when the NRA is in its strongest financial condition in years.” The group continued, saying “the NRA is not insolvent.”
“This action is necessitated primarily by one thing: the unhinged and political attack against the NRA by the New York Attorney General,” the NRA’s website reads.
In August, New York Attorney General Letitia James’ sued the organization over claims that top executives illegally diverted tens of millions of dollars for lavish personal trips, no-show contracts for associates and other questionable expenditures.
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