In 2001, the Xatśūll First Nation (Soda Creek Indian Band) decided that the best way to operate its commercial enterprises was through a limited partnership consisting of an incorporated general partner (Xatśūll General Partner Ltd.), which operates businesses, and with a limited partner (which is the current Chief & Council).
The purpose of the partnership is to own and operate various businesses in the Cariboo Region of B.C. Xatśūll General Partner Ltd. is a limited company which acts as the “general partner” and is solely responsible for the operation of Band-owned businesses.
The advantages of this form of business structure are:
- It can take advantage of many of the tax exemptions provided to Indian Bands and Registered Indians.
- The businesses are operated with limited liability, and at arm’s length from the Band or Chief and Council.
- It can provide financial benefit to the band as a whole, and not just the members involved directly in the businesses.
- It allows the band to recruit directors for operation from outside the band, when appropriate.
- It leaves Chief and Council to the important work of governance and regulation.
Brad Klock, CEO
3474A Mountain House Road
Williams Lake, BC V2G 5L5
Phone: 250-477-4900 (main) or 1-888-581-7750 (toll free)