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National Rifle Association Files for Bankruptcy as Part of Restructuring

Reuters

   The National Rifle Association on Friday filed petitions with a U.S.
   Bankruptcy Court seeking protection from creditors by restructuring,
   the gun rights advocacy group announced.

   The NRA filed the Chapter 11 petitions in U.S. Bankruptcy Court in
   Dallas, it said in a news release.

   The NRA said it would restructure as a Texas nonprofit to exit what it
   said was a "corrupt political and regulatory environment in New York"
   state, where it is currently registered.

   The influential group said in a statement there would be no immediate
   changes to its operations or workforce, and that it "will continue with
   the forward advancement of the enterprise -- confronting anti-Second
   Amendment activities, promoting firearm safety and training, and
   advancing public programs across the United States."

   The Second Amendment of the U.S. Constitution guarantees the right to
   keep and bear arms.

   Pending litigation

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