The Lax Kw’alaams Indian Band Settlement Trust was established as a result of a Settlement Agreement (October 2002) between the First Nation and Canada relating to the loss of its unsurrendered interest in the southern portion of Tsimpsean Indian Reserve 2.

On December 12, 2002, a majority of the Adult Members of Lax Kw’alaams assented to and approved the execution and delivery of the Trust Agreement. The Agreement sets out the terms on which the Trustees hold the Settlement Monies.

The assets are intended to be held in trust and invested for the benefit of the present and future Members of the First Nation. While revenues generated can be used to benefit those Members, the principle amounts of the Settlement Monies are not available for their use.

In 2018, the Council appointed five (5) Trustees to make Amendments to improve the provisions of the Trust Agreement. On September 10, 2019, after community information meetings, a referendum was held and a majority of members who participated voted to accept the Amendments.

The current Individual Trustees were elected in November 2019 and their terms end on November 23, 2023. The current Individual Trustees are: Michelle Bryant, Susan Dennis, Lisa Girbav, Tressa Johnson, and Carl Sampson.

Karen Knott, Indian Registry Administrator is responsible for membership and works with the Trust as the Trust Liaison to ensure communication and information flows between the Lax Kw’alaams Band and the Trust. Karen also manages payments to minors when they turn 19.

The Trusts deed governs the operation of the Trust:

• Beneficiaries of the trust
• Restrictions on the use of the settlement monies (no per capita/no security/no lending)
• Trust investment of the Capital
• Eligibility, election and responsibility/duties of the Individual Trustees
• Conflict of Interest
• Annual Disbursement of net income – band benefits and band development
• Responsibility of the First Nation
• Building the Capital of the Trust
• Council Resolutions