Looks like they're heading west, as a corporation for now.
NRA files for bankruptcy, says it will reincorporate in Texas
NRA files for bankruptcy, says it will reincorporate in Texas
NRA moving to Texas
- Thread starter ladder13
- Start date
Register to hide this ad
I read on another place this is partially due so they can start over. thus shedding any claims NY may have against them.
Sounds like a plan. Hopefully they will restructure and take a more aggressive stance afterwards. I'm still a supporter, though they could and need to do a lot more to rekindle my enthusiasm.
- Joined
- Oct 17, 2006
- Messages
- 7,774
- Reaction score
- 7,188
I'd wondered for years why they maintained corporate registry in NY. There are a lot of other states where they could have moved the formal 'home' to. Delaware is home to a staggering number of financial outfits.
I hope it works out well for all of us.
hoosierone
Member
I'm confused, they have their HQ in VA but are re-registering in TX?
Ugly Hombre
Member
Good about time they get out of New York...
OP
The NRA was originally chartered in NY in 1871.
Where a company is chartered and where actually it is located have no relation to each other. A lot of companies are incorporated in Delaware because the tax laws are very friendly to them.
As ladder13 points out, the NRA was incorporated in 1871 in a New York that is different from the one that exists now.
This move is one to keep the State of New York from forcing the NRA to dissolve so that the state can steal their assets.
It's a legal maneuver, nothing more.
As ladder13 points out, the NRA was incorporated in 1871 in a New York that is different from the one that exists now.
This move is one to keep the State of New York from forcing the NRA to dissolve so that the state can steal their assets.
It's a legal maneuver, nothing more.
Last edited:
Tonight's news said they filed
chapter 11.
chapter 11.
From the Terms of Service
WE ARE PRO NRA
We support The National Rifle Association. We believe The NRA is the biggest and best dog in the fight to protect gun rights and the Second Amendment. You may not believe that, but this board is not your platform for NRA bashing.
In plain terms: NRA bashing is NOT allowed. Take it somewhere else.
This will NOT turn into an NRA bashing.
Any questions??
Thanks
WE ARE PRO NRA
We support The National Rifle Association. We believe The NRA is the biggest and best dog in the fight to protect gun rights and the Second Amendment. You may not believe that, but this board is not your platform for NRA bashing.
In plain terms: NRA bashing is NOT allowed. Take it somewhere else.
This will NOT turn into an NRA bashing.
Any questions??
Thanks
Last edited:
wheelgun28
Member
I am pro-NRA and donated quite a bit of money to them over the years.
I was hoping that they would take this opportunity to revitalize the organization with some fresh management. New methods, new ideas, and moving in a positive direction. Businesses stagnate under too long of a rein of leadership.
I was hoping that they would take this opportunity to revitalize the organization with some fresh management. New methods, new ideas, and moving in a positive direction. Businesses stagnate under too long of a rein of leadership.
CAJUNLAWYER
Member
I see fertile ground for the law of unintended consequences at work here................for instance what happens to all the life and other such memberships????? Those would be carried forward as liabilities and would be one of the first things to be shed in any reorganization. I hope they thought this through.....I remain hopeful
Last edited:
I am happy to see them get out of NY along with any and all gun manufacturers that leave. I hate it for the workers but the elected officials there have made it clear they would love to put them out of business anyway. If they leave I hope they give the workers a chance to relocate.
Caj - what are the chances the federal court would block the move ? From what I read, they were simply re-incorporating in TX. The chapter 11 would only stall the litigation while they executed the the restructure into tx. Once they were no longer a NY entity the AG would not have standing. I am not a lawyer and am trying to understand.
DeplorabusUnum
Member
It seems like lots of people feel like getting out of New York is a good idea right now.
It's good news that the NRA is leaving NYS. I can, however, see NYS spinning this as a "WIN" for them. I hope we (our NRA) can put a positive spin on this first.
psquarejr
Member
As a Life Member of the NRA, I hope the the change makes the NRA stronger and more efficient in protecting our 2A right. Fighting a state like NY will suck up the NRA's resources. I can't wait until I get my next issue of the American Rifleman or whatever issue that will have the details of the move so I can follow the story.
According to the NRA press release nothing is moving to Texas except their registration. The physical headquarters and all of the workers will remain in Virginia.
