This bill updates the federal charter for the Reserve Organization of America, which is a military policy advocacy group. The organization gets its official status as a federally chartered corporation that will continue to exist indefinitely.

The group's main purpose is to support and promote military policies that help keep the country secure. The bill sets out standard rules for how the organization operates: it must hold annual meetings, keep financial records, and allow members to inspect those records. Members can join based on the organization's own constitution and bylaws.

The bill also includes important restrictions to keep the organization operating properly. It cannot make money for profit, cannot issue stock to investors, and cannot give its income or assets to individual members. The organization is also banned from contributing money to political parties or candidates. Additionally, leaders cannot take loans from the organization, and anyone who approves such a loan would be personally responsible for paying it back.

Finally, the bill changes the organization's official name from "Reserve Officers Association of the United States" to "Reserve Organization of America" throughout all federal laws and documents. The organization must maintain a registered agent in Washington, D.C. to receive legal documents on its behalf.