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Trump foundation to dissolve amid lawsuit alleging charity was acting as part of 2016 campaign

In this Dec. 13, 2018, file photo, President Donald Trump listens during a meeting in the Cabinet Room of the White House in Washington. Trump's charitable foundation has reached a deal to dissolve amid a legal battle with New York's Attorney General Barbara Underwood. .
In this Dec. 13, 2018, file photo, President Donald Trump listens during a meeting in the Cabinet Room of the White House in Washington. Trump's charitable foundation has reached a deal to dissolve amid a legal battle with New York's Attorney General Barbara Underwood. . (AP Photo/Evan Vucci, File)

NEW YORK – U.S. President Donald Trump’s charitable foundation has reached a deal to dissolve amid a legal battle with New York’s attorney general.

Attorney General Barbara Underwood and the foundation filed a joint stipulation with the court Tuesday laying out a process for shutting down the charity and distributing remaining assets to other non-profit groups.

READ MORE: Michael Cohen subpoenaed by investigators in Trump Foundation probe

New York filed a lawsuit last spring accusing the foundation of oprating like an extension of Trump’s businesses and political campaign. That suit will continue.

Lawyers for the foundation say any infractions were minor. They say they have been trying to shut down the foundation voluntarily for months.

WATCH: Trump foundation to dissolve after reaching deal in lawsuit

Trump foundation to dissolve after reaching deal in lawsuit
Trump foundation to dissolve after reaching deal in lawsuit

A judge must still sign off on the agreement.

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Underwood is a Democrat and is seeking millions of dollars in penalties. She wants Trump and his eldest children barred from running other charities.

WATCH:¬†White House calls New York AG’s report on Trump Foundation ‘biased, concerning’ (June 2018
WH calls New York AG’s report on Trump Foundation ‘biased, concerning’
WH calls New York AG’s report on Trump Foundation ‘biased, concerning’