Judge expected to rule whether or not NRA can file for bankruptcy, which could pave the way for move to Texas
The financial future of the National Rifle Association is playing out in a contentious battle in a Texas courtroom.
The country’s largest gun lobbying group is hoping a federal judge will grant it bankruptcy protection, allowing the NRA to reincorporate as a Texas nonprofit.
This follows the group’s announcement in January that it was leaving New York to exit, “a corrupt political and regulatory environment.”
A judge is expected to rule in the case next week.
In an announcement earlier this year, the NRA said it was “in its strongest financial condition in years,” but the restructuring will help to “streamline costs and expenses.”
National Judge expected to rule whether or not NRA can file for bankruptcy, could pave way for move to Texas
Wayne LaPierre, Executive Vice President and Chief Executive Officer of the NRA, arrives prior to a speech by US President Donald Trump at the National Rifle Association (NRA) Annual Meeting at Lucas Oil Stadium in Indianapolis, Indiana, April 26, 2019. (Photo by SAUL LOEB / AFP) (Photo credit should read SAUL LOEB/AFP/Getty Images via CNN)
by: Brynn Gingras and Linh Tran, CNN
Posted:
Apr 10, 2021 / 06:15 AM EST
(CNN) The financial future of the National Rifle Association is playing out in a contentious battle in a Texas courtroom.