The corporation may not make a loan to a director, officer, member or employee
To amend title 36, United States Code, to revise the Federal charter for the Foundation of the Federal Bar Association, section 5, Sec. 5.
Written by .
The corporation may not make a loan to a director, officer, member or employee
The document says “may not”Who acts: Foundation of the Federal Bar AssociationHow: statuteSec. 5 in the PDF
What the document says
“``(d) Loans.--The corporation may not make a loan to a director, officer, member, or employee.”
The loans subsection written into section 70507 of title 36, United States Code, bars the corporation from making a loan to a director, officer, member or employee. It states no exception.
What the document actually says
“``(d) Loans.--The corporation may not make a loan to a director, officer, member, or employee.”
That sentence, in plain words
The group may not lend money to its own people. Not to a board member, an officer, a member, or a worker.
What this is about
A loan is cash lent that must be paid back. This rule bars all such loans.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Foundation of the Federal Bar Association Charter Amendments Act of 2025, Public Law 119-57, sec. 5, 139 Stat. 711 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ57/html/PLAW-119publ57.htm
This page
“The corporation may not make a loan to a director, officer, member or employee,” Foundation of the Federal Bar Association Charter Amendments Act of 2025, section 5, Sec. 5. Read the Mandate, https://readthemandate.org/foundation-the-federal-bar-association-charter/proposal/sec05-no-loans-to-insiders/ (retrieved October 10, 2026).
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