Letitia James, the New York Attorney General, is claiming that the NRA has diverted millions of dollars to leaders for their personal use.
She said, "For these years of misconduct we are seeking an order to dissolve the NRA in its entirety."
The NRA has called the lawsuit a "baseless, premeditated attack."
The lawsuit names four defendants – NRA’s Executive Vice President Wayne LaPierre, Wilson Phillips, Joshua Powell and John Frazer – stating that they "instituted a culture of self-dealing, mismanagement and negligent oversight at the NRA that was illegal, oppressive and fraudulent."
The lawsuit outlines various charges against the defendants, but names LaPierre the "central figure" behind the organization's misconduct.
The lawsuit alleges that LaPierre made more than eight visits to the Bahamas on a private plane using NRA funds, costing a total of $500,000.
James stated that the corruption "is so broad," that there was need for total dissolution of the organization.
James, a Democrat, denied claims that the lawsuit against the NRA was at all influenced by her political leanings.
"We followed the facts and the law," she said. "We've come to the conclusion that the NRA unfortunately was serving as a personal piggy bank to four individual defendants."
The lawsuit alleges that more than $64 million was lost in three years because of the defendants' abuse.
On Thursday, the District Attorney for Washington, DC, also filed a lawsuit against the organization "for misusing charitable funds to support wasteful spending by the NRA and its executives."
It is highly likely that the NRA will contest the New York lawsuit, but this is just a fraction of the problems the organization is facing – including internal complaints, investigations in multiple states, and congressional inquiries.
NRA President Carolyn Meadows released a statement claiming that the lawsuit is "a transparent attempt to score political points. As evidenced by the lawsuit filed by the NRA today against the [New York Attorney General] we not only will not shrink from this fight - we will confront it and prevail."
In a statement to reporters outside the White House, President Donald Trump voiced his support for the NRA, and called the lawsuit a "very terrible thing."
"I think the NRA should move to Texas and lead a very good and beautiful life," President Trump said on Thursday. "Texas would be a great place, or to another state of their choosing."
Sources: America Now