Just today an article was published in the Denver Business Journal about a Credit Union not being cleared by the Federal Reserve to operate (even though credit unions are state chartered banks but, I digress). 

You cannot throw a corporation in jail but they can revoke the charter, so what. 

If the lender is a chartered entity they're basically not going to be able to do anything for me, private lenders will want massive points and rates and short terms.

It's an institution that was organized by the federal government and chartered to serve a dual mandate of price stability and unemployment. 

Also- fraternities generally carry pretty hefty insurance policies through their charters, so if they "burn the house down" you are theoretically protected.So... anyone tried this?

The Operating Agreement outline can be taken from the Articles and By-laws of a corporate charter.

He chartered one and we rode around for hours looking at the ocean and the island.

I used to teach at a charter school in the urban core.

Sadly, a couple of decades after my tenure the frat lost it's charter due to a pledge dying of alcohol.

@Jeffrey Charter thanks!