To set up Finn’s Fishery Corp PMA as a private entity (likely held by or associated with a trust), you are essentially creating a “private ecosystem” for your fishery business. Because a PMA operates on the right of contract, your documentation is your “law.”
If you are structuring this correctly, you will need two distinct sets of documents: one for the Trust (the owner/holder) and one for the PMA (the operator).
1. The PMA Operating Documents
These documents define how the fishery interacts with its members (customers, staff, and partners).
- Articles of Association: This is your “Constitution.” It declares the name (Finn’s Fishery Corp PMA), your purpose (e.g., providing fresh seafood to members), and the legal basis for the association (typically citing the 1st, 4th, 5th, 9th, and 14th Amendments).
- Bylaws: The internal rulebook. It outlines how the fishery is managed, how the “Trustee” or “Director” is chosen, how meetings are held, and how the books are kept.
- Membership Agreement: This is the most important document. Every customer or person you do business with must sign this. It must state that they are joining a private association and waive their right to sue in public court, agreeing instead to private arbitration.
- Code of Ethics/Conduct: Specific to a fishery, this might include member responsibilities regarding sustainable practices or facility rules.
2. The Trust Documents (The “Foundation”)
If the PMA is “for a trust,” the trust is the entity that likely holds the equipment (boats, nets, property) and the PMA’s “charter.”
- Trust Indenture (Declaration of Trust): The master document that creates the trust. It names the Settlor (who creates it), the Trustee (who manages it), and the Beneficiaries (who get the fish or the profits).
- Schedule of Assets: A list of everything the trust owns that the PMA will be using (e.g., “The F/V Finn’s Fortune” boat, the commercial kitchen, the storefront).
- Minutes of the Board of Trustees: A formal record showing the Trust has authorized the creation and operation of the Fishery PMA.
3. Operational/Administrative Documents
- Private EIN: Even a private trust/PMA often needs an Employer Identification Number for banking. You can apply for this as a “Banking Purposes Only” entity or a specific trust type.
- Membership Ledger: A private record of everyone who has signed the agreement. In a PMA, if they aren’t on the ledger, they are “the public,” and your private protections may not apply to them.
- Banking Resolution: A document provided to the bank that explains who has the authority to sign for “Finn’s Fishery Corp PMA.”
Summary Checklist for Finn’s Fishery
| Document | Purpose |
|---|---|
| PMA Contract | Turns “customers” into “members.” |
| Trust Deed | Protects the boats and equipment from liability. |
| Membership Dues Structure | Defines how members “pay” for their fishery shares. |
| Hold Harmless Agreement | Specifically for members entering docks or boats (liability protection). |
A Quick “Peer” Warning
Because you are dealing with a Fishery, you are dealing with Department of Natural Resources (DNR), Coast Guard, and Health Department regulations.
While a PMA provides a “private domain” for your contracts, it does not usually exempt you from:
- Safety Regulations: The Coast Guard still cares if your boat is seaworthy.
- Health Codes: If you sell tainted fish, “private membership” won’t stop the health department from stepping in under “clear and present danger” statutes.
Are you planning to operate this fishery as a “buying club” for members, or as a full-scale commercial operation?