Restrictions

Section 70507 of title 36, United States Code, is amended to read as follows: 70507. Restrictions (a) Stock and dividends The corporation may not issue stock or declare or pay a dividend. (b) Political activities (1) In general The activities, funds, income, and property of the corporation may not be used to carry on political activity or attempt to influence legislation. (2) No contribution, support, or participation The corporation or a director or officer in the corporate capacity of the director of officer may not contribute to, support, or participate in any political activity or in any manner attempt to influence legislation. (c) Distribution of income or assets (1) In general The income or assets of the corporation may not inure to the benefit of, or be distributed to, a director, officer, or member during the life of the charter granted by this chapter. This subsection does not prevent the payment, in amounts approved by the board of directors, of— (A) reasonable compensation; or (B) reimbursement for expenses incurred in undertaking the corporation’s business, to officers, directors, or members. (2) Rule of construction This subsection shall not be construed to— (A) prevent the award of a grant to a Federal Bar Association chapter of which an officer, director, or member may be a member; or (B) prevent the payment of reasonable compensation to the corporation’s employees for services undertaken on behalf of the corporation. (d) Loans The corporation may not make a loan to a director, officer, member, or employee. (e) Immunity from liability Members and private individuals are not liable for the obligations of the corporation. (f) Claim of governmental approval or authority The corporation— (1) may not claim congressional approval or the authority of the United States Government for any of its activities; and (2) may acknowledge this charter..

Section 70507 of title 36, United States Code, is amended to read as follows: 70507. Restrictions (a) Stock and dividends The corporation may not issue stock or declare or pay a dividend. (b) Political activities (1) In general The activities, funds, income, and property of the corporation may not be used to carry on political activity or attempt to influence legislation. (2) No contribution, support, or participation The corporation or a director or officer in the corporate capacity of the director of officer may not contribute to, support, or participate in any political activity or in any manner attempt to influence legislation. (c) Distribution of income or assets (1) In general The income or assets of the corporation may not inure to the benefit of, or be distributed to, a director, officer, or member during the life of the charter granted by this chapter. This subsection does not prevent the payment, in amounts approved by the board of directors, of— (A) reasonable compensation; or (B) reimbursement for expenses incurred in undertaking the corporation’s business, to officers, directors, or members. (2) Rule of construction This subsection shall not be construed to— (A) prevent the award of a grant to a Federal Bar Association chapter of which an officer, director, or member may be a member; or (B) prevent the payment of reasonable compensation to the corporation’s employees for services undertaken on behalf of the corporation. (d) Loans The corporation may not make a loan to a director, officer, member, or employee. (e) Immunity from liability Members and private individuals are not liable for the obligations of the corporation. (f) Claim of governmental approval or authority The corporation— (1) may not claim congressional approval or the authority of the United States Government for any of its activities; and (2) may acknowledge this charter..