Oliver North says he won’t return as NRA president

National Rifle Association President Oliver North announced Saturday that he will not serve a second term.

An NRA board member read a statement from North to members of the group, in which he announced that he wouldn't be renominated, and recommended the group form a committee to review the NRA's finances, The Associated Press reported.

North said there is a "clear crisis" that could threaten the gun rights group's nonprofit status, The Wall Street Journal reported.

North’s term ends Monday.

The Associated Press contributed to this report.

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Ann Smajstrla, Cox Media Group National Content Desk

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