NRA In Financial Jeopardy, May Soon Be ‘Unable To Exist’

Wayne LaPierre, Executive Vice President of the National Rifle Association (NRA), speaks during the annual Conservative Political Action Conference (CPAC) 2016 at National Harbor in Oxon Hill, Maryland, outside Washi... Wayne LaPierre, Executive Vice President of the National Rifle Association (NRA), speaks during the annual Conservative Political Action Conference (CPAC) 2016 at National Harbor in Oxon Hill, Maryland, outside Washington, March 3, 2016. Republican activists, organizers and voters gather for the Conservative Political Action Conference at a critical moment for the Republican Party as Donald Trump marches towards the presidential nomination and GOP stalwarts consider whether -- or how -- to stop him. / AFP PHOTO / SAUL LOEB (Photo credit should read SAUL LOEB/AFP/Getty Images) MORE LESS

The National Rifle Association may soon be “unable to exist” or “pursue its advocacy mission” because the gun rights group is in profound financial jeopardy, according to a legal complaint obtained by Rolling Stone.

According to the complaint, an ongoing lawsuit against New York Gov. Andrew Cuomo and New York state financial regulators has bled the NRA dry and the not-for-profit is facing “irrecoverable loss and irreparable harm.”

In recent months, New York took action to ban the sale of “Carry Guard,” an NRA-branded insurance for NRA members that was designed to help cover the legal fees after a member fired a legal gun. The state ruled in May that the liability insurance was illegal and the NRA’s insurance companies stopped selling it, according to Rolling Stone.

In the court document filed in July, the NRA claims that the state of New York lobbied to get several other financial service providers — like insurance companies and banks — to break with the gun rights group, which has made it difficult to operate. The group alleges in the complaint that the NRA will soon have to dissolve its media operation, which it can’t continue without insurance.

The suit asks the court to keep state regulators from “interfering with, terminating, or diminishing any of the NRA’s contracts and/or business relationships with any organizations.”

“The NRA will suffer irrecoverable loss and irreparable harm if it is unable to acquire insurance or other banking services due to Defendants’ actions.”

Read the filing below:

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