The US National Rifle Association declares bankruptcy, plans restructure as a Texas non-profit - ABC News

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

"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.

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.".