Federal Bar Association Foundation Charter Update: Governance and Political Activity Rules.
This Act revises the federal charter for the Foundation of the Federal Bar Association, granting the organization greater flexibility to define its internal structure, membership, and governing body through its own bylaws. Crucially, it strictly prohibits the use of the Foundation's assets for political activities or lobbying efforts. The law reinforces that the organization must operate in a non-commercial manner, banning stock issuance and loans to insiders.
Key points
Internal rules regarding membership eligibility and the structure of the governing body are now determined by the Foundation's bylaws, not federal statute.
Strict prohibition on using the Foundation's funds or property for political activity or attempts to influence legislation (lobbying).
Members and private individuals are explicitly protected from liability for the corporation's financial obligations.
The Foundation is allowed to move its principal office to any US location specified in its bylaws, removing the previous restriction to the District of Columbia.
Became Law
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