The Trust was renamed the Tūhoe-Waikaremoana Māori Trust Board. The Trust is set up by statute. Its accounts are audited by the Auditor-General. The beneficiary’s rights are therefore guaranteed by law. The Trust has now more than 7000 registered beneficiaries. Every adult beneficiary is entitled to vote for the trustees and to stand for election. Tūhoe no matter where they live, if they are registered, can vote for the trustees.

In 2006 at the last election only one division went to Ballot, Ruātoki. The other three divisions Trust members were selected by Tribal Committee. There are 15 Trustees elected in four divisions, four from Ruatāhuna, Waimana/Maungapōhatu and Ruātoki and three from Waikaremoana.

In 2009 all divisions except Ruatāhuna went to Election.

The Trust has always been run by Tūhoe for Tūhoe. The first board purchased Poronui Station in Taupo as the Trust Board members, who were farmers, could see its potential. The land proved infertile and needed more investment than the trust could afford so a management deal was done with the Lands and Survey Department who developed the station. The board in 1968 sold the station for a reasonable return and the Trust began investing in forestry.