Internal Governance Rules

These Internal Governance Rules establish the operational framework for Liverights Trust PMA. The Trust operates exclusively as a private arrangement between consenting members. No public services are offered.

The PMA only tracks instructions provided by members regarding their contributions held under custodial/trust terms.

Membership is voluntary and requires acceptance of the Private Membership Agreement. Each member receives:

• A unique Member Identification Number (LRT-YYYY-XXXXX)
• Access to ledger accounts (checking, savings, trust)
• A Member Access Card for account operations
• Voting rights in PMA governance matters

All ledger operations are categorized as follows:

• Credit Entry: Value received (member contributions)
• Debit Entry: Value assigned or transferred (distributions, assignments)
• Adjustment Entry: Corrections and equity reallocations
• Fee Entry: Administrative and service fees

Each account tracks opening balance, closing balance, reserved balance, and available balance. Sub-accounts may be created for earmarked purposes.

Assignment instructions are compliant with PMA and custodian account requirements:

• All assignments require member identification and authorized signature
• Timestamps are immutably recorded for each instruction
• Assignment Order documents are generated for both parties
• Family consent may be required for certain trust account operations

• All transactions are logged in the audit trail with full metadata
• Members must use PMA-compliant terminology in all communications
• No member may represent the Trust as a public financial institution
• Daily transaction limits: $15,000 | Per transaction: $10,000 | ATM: $5,000
• Reserved balances cannot be distributed without admin approval

Governance decisions are made through:

• Administrative decisions by Trust officers for operational matters
• Arbitration Panel decisions for dispute resolutions
• Member consensus for changes to governance rules
• Family group consensus for family trust matters

The Arbitration Panel handles disputes between members and enforces private agreements. The panel consists of:

• Chair: Presides over dispute hearings and issues final rulings
• Panel Members: Review evidence and provide recommendations
• Secretary: Maintains records and ensures procedural compliance

All panel decisions are binding under the terms of the Private Membership Agreement.

Violations of governance rules may result in:

• Account restrictions or temporary suspension
• Mandatory dispute resolution review
• Membership termination in severe cases
• Distribution of remaining contributed value upon termination