History of the Trust
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.
Lax Kw’alaams Band Settlement Trust Agreement
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
As financial caretakers of the Lax Kw’alaams Trust, the Trustees are responsible for managing the safety, income and growth of Trust assets for the use of current and future generations of Lax Kw’alaams to establish a legacy for all.
Our goal is to help create, reinforce and sustain conditions for the improved quality of life for our members both on and off-reserve.
Current Trustees
Three individual Trustees were elected by acclamation in the November 2023 election, and their terms end in November 2027. These elected Trustees are: Corrina Morhart, Danella Angus and Lisa Girbav.
To fill the remaining two available Trustee positions, the Lax Kw’alaams Band council appointed two Trustees on January 17, 2024, to serve a term of two years. This term will be followed by a by-election, in accordance with the Lax Kw’alaams Band Settlement Trust Agreement (page 14, Section 10). These appointed Trustees are: Joanne Finlay and Michelle Bryant-Gravelle.
Karen Knott works as the Trust Liaison, to ensure communication and information flows between the Lax Kw’alaams Band, the membership and the Trust. For inquiries about the Lax Kw’alaams Trust, please contact Karen at [email protected].
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