Judge expected to rule whether or not NRA can file for bankruptcy, which could pave the way for move to Texas

The financial future of the National Rifle Association is playing out in a contentious battle in a Texas courtroom.

The country's largest gun lobbying group is hoping a federal judge will grant it bankruptcy protection, allowing the NRA to reincorporate as a Texas nonprofit. This follows the group's announcement in January that it was leaving New York to exit, "a corrupt political and regulatory environment."