The powerful gun lobby organization NRA in the USA has declared bankruptcy as part of a “restructuring” and wants to relocate its legal seat to Texas.
The National Rifle Association announced on Friday that it wanted to leave New York and reposition itself in Texas.
The bankruptcy is part of a "new strategic plan".
The NRA stressed that the organization's financial position was strong.
There will also be no direct impact on operations or staffing levels.
The organization justified the move with the aim of leaving a “poisoned” and “corrupt” political environment in New York.
New York State Attorney General Letitia James filed charges against the NRA in August to seek resolution.
"Fraud and abuse" had been the order of the day for years, she said as a reason.
Among other things, leaders are said to have embezzled money for luxury travel and given orders to family members and friends.
The NRA has not-for-profit status in the USA and is therefore subject to special requirements for the use of donations, charities and accounting.
It is considered a very conservative organization with great political influence and a loyal supporter, especially of Republicans of the outgoing US President Donald Trump.
The summer indictment had called Trump a "terrible thing" and advised the NRA to move to Texas.
The NRA is based in Fairfax, Virginia, and can be prosecuted in New York for being registered as a nonprofit organization.
James said following the NRA's announcement that it would review the documents but would not allow the organization to use "these or any other tactics" to evade the accountability and oversight of their agency.