Foundation of the Federal Bar Association Charter Amendments Act of 2017

This bill revises the federal charter for the Foundation of the Federal Bar Association:

• to eliminate the provision that requires the foundation to be incorporated and domiciled in the District of Columbia;
• to require the board of directors to decide, and specify in the bylaws, the location of the principal office;
• to specify that the bylaws—not the charter—must provide for the terms of membership, the responsibilities of the board of directors, and the election of officers;
• to prohibit a director or officer, in his or her corporate capacity, from contributing to, supporting, or participating in political activities;
• to allow income and assets of the corporation to be used to reasonably compensate or reimburse expenses of an officer, director, or member; to award a grant to the Federal Bar Association chapter of an officer, director, or member; and to reasonably compensate employees;
• to expand a prohibition on loans for directors and officers to include members and employees; and
• to specify that on dissolution or final liquidation, any remaining assets must be distributed as provided by the board of directors instead of deposited in the Treasury.