Revises the federal charter of the Foundation of the Federal Bar Association by changing its governance rules, removing its ability to issue stock or pay dividends, and moving its principal office out of Washington, D.C.

• Amends title 36 of the U.S. Code to update the organization's board, officer, and membership rules, leaving many details to its bylaws
• Bars the foundation from issuing stock, paying dividends, making loans to insiders, or engaging in political activity or lobbying
• Allows the principal office to be located at a U.S. site chosen by the board of directors instead of in the District of Columbia
• Requires the foundation to follow the service of process law of the state or district where it is incorporated, and sets rules for distributing assets on dissolution

• Judiciary Committee (Senate)

Law