By CBSNewYork Team

NEW YORK (CBSNewYork/CBSDFW.COM) – The National Rifle Association filed a voluntary petition for chapter 11 bankruptcy in federal court in Dallas on Friday, Jan 15.

The gun rights group says it will move its headquarters from New York to Texas.

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In a letter to members, NRA Executive Vice President and CEO Wayne LaPierre said, “Today, the NRA announced a restructuring plan that positions us for the long-term and ensures our continued success as the nation’s leading advocate for constitutional freedom – free from the toxic political environment of New York. The plan can be summed up quite simply: We are DUMPING New York, and we are pursuing plans to reincorporate the NRA in Texas.”

The gun rights organization said it would restructure as a nonprofit in Texas to exit what it called “a corrupt political and regulatory environment in New York.”

Texas Gov. Greg Abbott tweeted out a link to the letter and said, “Welcome to Texas – a state that safeguards the 2nd Amendment.”

“The plan allows us to protect the NRA and go forward with a renewed focus on Second Amendment advocacy,” says NRA President Carolyn Meadows. “We will continue to honor the trust placed in us by employees, members and other stakeholders – following a blueprint that allows us to become the strongest NRA ever known.”

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The NRA listed between $100-500 million in liabilities in the filing.

New York State Attorney General Letitia James filed a lawsuit against the NRA in August.

The lawsuit claimed the group’s top executives funneled millions of dollars into illegal expenses.

She released a statement Friday reading in part, “The NRA’s claimed financial status has finally met its moral status: bankrupt.”

She also says she will not allow the NRA to “evade accountability and my office’s oversight.”

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CBSNewYork Team