NRA files Chapter 11 bankruptcy, moves to Texas

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johndoe3
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NRA files Chapter 11 bankruptcy, moves to Texas

Post by johndoe3 »

https://www.politico.com/news/2021/01/1 ... tcy-459810

Friday, the NRA filed Chapter 11 bankruptcy as a protective measure, and announced that they are dissolving their nonprofit corporation in New York that has been in existence since 1871 (150 years). They are simultaneously incorporating as a non-profit in Texas.
NRA declares bankruptcy, plans to incorporate in Texas

The announcement came months after New York’s attorney general 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.

The NRA's bankruptcy filing listed between $100 million and $500 million in assets and between $100 million and $500 million in liabilities. Still, the NRA claimed in announcing the move that the organization was “in its strongest financial condition in years.”

The NRA filed for Chapter 11 bankruptcy in federal court in Dallas and said it planned to incorporate in Texas, where records show it formed a limited liability corporation, Sea Girt LLC, in November 2020. Sea Girt LLC made a separate bankruptcy filing Friday, listing fewer than $100,000 in liabilities.

In its filing, the NRA said its longtime leader, Executive Vice President Wayne LaPierre, made the decision to file for bankruptcy protection in consultation with a “special litigation committee” comprising three NRA officials that was formed in September to oversee its legal strategies. The NRA board voted Jan. 7 to clarify LaPierre's employment agreement, giving him the power to “reorganize or restructure the affairs” of the organization.

“The move will enable long-term, sustainable growth and ensure the NRA’s continued success as the nation’s leading advocate for constitutional freedom – free from the toxic political environment of New York,” the NRA said in a statement.
You can fool all of the people some of the time, and some of the people all of the time...and those are pretty good odds.
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whiterussian1974
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Re: NRA files Chapter 11 bankruptcy, moves to Texas

Post by whiterussian1974 »

The thing that I hate about this, is that currently this Corp is the oldest Civil Rights organization in the USA. :(

If they dissolve it and reform in TX, they can no longer make this claim. But I'm glad to have them here. :)
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0101silent
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Re: NRA files Chapter 11 bankruptcy, moves to Texas

Post by 0101silent »

whiterussian1974 wrote: Fri Jan 15, 2021 10:26 pm The thing that I hate about this, is that currently this Corp is the oldest Civil Rights organization in the USA. :(

If they dissolve it and reform in TX, they can no longer make this claim. But I'm glad to have them here. :)
The NRA was formed to lobby for some people to have gun rights and to lobby for others to be denied gun rights.

Every gun control law written even today is the same. "Ownership or possession is forbidden except, unless, excluding..."

Now that I think about it EVERY LAW is written that way.
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Re: NRA files Chapter 11 bankruptcy, moves to Texas

Post by mbogo300 »

0101silent wrote: Sat Jan 16, 2021 10:18 am The NRA was formed to lobby for some people to have gun rights and to lobby for others to be denied gun rights.
Actually the NRA was formed because people were alarmed by the lack of marksmanship of the Union Army r4ecruits. They designed and promoted courses to teach people how to shoot effectively.

The lobbying on gun laws came after the Gun Control Act of 1968 was being proposed.
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0101silent
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Re: NRA files Chapter 11 bankruptcy, moves to Texas

Post by 0101silent »

mbogo300 wrote: Sat Jan 16, 2021 10:26 am
0101silent wrote: Sat Jan 16, 2021 10:18 am The NRA was formed to lobby for some people to have gun rights and to lobby for others to be denied gun rights.
Actually the NRA was formed because people were alarmed by the lack of marksmanship of the Union Army r4ecruits. They designed and promoted courses to teach people how to shoot effectively.

The lobbying on gun laws came after the Gun Control Act of 1968 was being proposed.
True, my claim about the reason the NRA was founded is incorrect or untrue, at best unprovable.

There stands to reason to believe that the NRA was politically active. It was founded by two former Union(not U.S.? politics) officers. The NRA received a $25,0000 grant (1871-1873?) from New York(lobbying). The NRA received New York Taxpayer money until 1880(lobbying). The NRA also received(receives?) Federal money(lobbying).

In the political climate of 1871 who was allowed to join the NRA? Who wasn't? Could any Union Soldier join the NRA or use its firearm training facilities? In 1871 were the NRA's lobbyists for or against firearms rights for ALL citizens? How about 50 years later? 100 years?

"The lobbying on gun laws came after the Gun Control Act of 1968 was being proposed." False.

In the 1920's the NRA successfully lobbied for 9 states to require a license for concealed carry, waiting periods, and sales records beings given to the police.

The NRA lobbied FOR the 1934 NFA act and 1938 Gun Control Act.

The NRA supported the 1967 Mulford Act in California.

I bet there's countless less notable gun control efforts by the NRA at state and local levels.
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