RCW 30A.49.050 — Washington Code / Title 30A / Chapter 49 / Section 050
RCW 30A.49.050: Merger to resulting state bank—Stockholders' vote—Notice of meeting—Waiver of notice.
Status: in_force

To be effective, a merger which is to result in a state bank must be approved by the stockholders of each merging state bank by a vote of two-thirds of the outstanding voting stock of each class at a meeting called to consider such action, which vote shall constitute the adoption of the charter and bylaws of the resulting state bank, including the amendments in the merger agreement. Unless waived in writing, notice of the meeting of stockholders shall be given by publication in a newspaper of general circulation in the place where the principal office of each merging state bank is located, at least once each week for four successive weeks, and by mail, at least fifteen days before the date of the meeting, to each stockholder of record of each merging state bank at his or her address on the books of his or her bank; no notice of publication need be given if written waivers are received from the holders of two-thirds of the outstanding shares of each class of stock. The notice shall state that dissenting stockholders will be entitled to payment of the value of only those shares which are voted against approval of the plan.
RCW 30A.04.300 — Washington Code / Title 30A / Chapter 04 / Section 300
RCW 30A.04.300: Foreign branch banks.
Status: in_force

A branch of any foreign bank or banker actually and publicly engaged in banking in this state on March 10, 1917, in full compliance with the laws hereof, which were in force immediately prior to March 10, 1917, and which branch has a capital not less in amount than that required for the organization of a state bank as provided in this title at the time and place when and where such branch was established, may continue its said business, subject to all of the regulations and supervision provided for banks. The amount upon which it pays taxes shall be prima facie evidence of the amount and existence of such capital. No such bank or banker shall set forth on its or his or her stationery or in any manner advertise in this state a greater capital, surplus and undivided profits than are actually maintained at such branch. Every foreign corporation, bank and banker, and every officer, agent, and employee thereof who violates any provision of this section or which violates the terms of the resolution filed as required by *RCW 30.04.290 shall for each violation forfeit and pay to the state of Washington the sum of one thousand dollars. A civil action for the recovery of any such sum may be brought by the attorney general in the name of the state.(1) A residential mortgage loan servicer licensee must maintain liquidity, operating reserves, and a tangible net worth in accordance with generally accepted accounting principles as determined by the director. The director may adopt rules to interpret this subsection. (2) A residential mortgage loan servicer that is a Fannie Mae or Freddie Mac-approved servicer meets the requirements of subsection (1) of this section if the liquidity, operating reserves, and tangible net worth each meet the standards of the government-sponsored enterprise for which they are approved. For loans serviced that would not otherwise be subject to the liquidity, operating reserves, and tangible net worth requirements of Fannie Mae or Freddie Mac, the residential mortgage loan servicer must maintain liquidity, operating reserves, and tangible net worth consistent with the highest standards of the government-sponsored entity or entities for which they are approved. (3) If a licensee's liquidity, operating reserves, or tangible net worth fall below the amount required under subsection (1) or (2) of this section, the director or the director's designee may initiate an action.
RCW 30B.10.170 — Washington Code / Title 30B / Chapter 10 / Section 170
RCW 30B.10.170: Hearing—Order—Review or appeal.
Status: in_force

(1) The presiding officer shall have sixty days after the hearing to issue an order, including findings of fact and conclusions of law, consistent with RCW 34.05.461 (3). (2) If the director has not delegated his or her authority to a presiding officer to issue a final order, a party may bring a petition for review of the presiding officer's initial order before the director, consistent with RCW 34.05.464 . (3) If the director has previously delegated his or her authority for the presiding officer to issue a final order, then the order of such presiding officer shall be final and may be appealable to the superior court of Washington, consistent with RCW 34.05.514 . (4) The commencement of proceedings for judicial review shall not operate as a stay of any order issued by the director unless specifically ordered by the court.
RCW 30B.53.090 — Washington Code / Title 30B / Chapter 53 / Section 090
RCW 30B.53.090: Acquisition of control of state trust company—Notice and application—Registration statement—Violations—Penalties.
Status: in_force

(1) An acquiring person shall not acquire control of a state trust company until thirty days after filing with the director a written notice of and application for change of control containing the following information, plus any additional information that the director may prescribe as necessary or appropriate in the particular instance for the protection of shareholders, trustors, beneficiaries, and the public interest: (a) The identity and trust and other business experience of each acquiring person by whom or on whose behalf acquisition is to be made, including the identity and experience of: (i) The officers, managers, and directors of the acquiring person; and (ii) Any proposed new officers, managers, or directors for the state trust company in the event of a change of control of the state trust company; (b) The financial and managerial resources and future prospects of each person involved in the acquisition; (c) The terms and conditions of any proposed acquisition and the manner in which the acquisition is to be made; (d) The source and amount of the funds or other consideration used or to be used in making the acquisition, and a description of the transaction and the names of the parties if any portion of these funds or other consideration has been or is to be borrowed or otherwise obtained for the purpose of making the acquisition; (e) Any plan or proposal which any person making the acquisition may have to liquidate the state trust company, to sell its assets, to merge it with another trust institution, or to make any other major change in its business or corporate structure for management; (f) The identification of any person employed, retained, or to be compensated by the acquiring person, or by any person on its behalf, who makes solicitations or recommendations to shareholders for the purpose of assisting in the acquisition and a brief description of the terms of the employment, retainer, or arrangement for compensation; and (g) Copies of all invitations for tenders or advertisements making a tender offer to shareholders for the purchase of their shares to be used in connection with the proposed acquisition. (2) When an entity is required to file an application under this section, the director may require that information required by subsection (1)(a), (b), and (f) of this section be given for each officer, manager, and director of such entity, and each person who is directly or indirectly the beneficial owner of twenty-five percent or more of the outstanding voting securities of the entity. (3) If any tender offer, request, or invitation for tenders or other agreements to acquire control is proposed to be made by means of a registration statement under the securities act of 1933, 48 Stat. 74, 15 U.S.C. Sec. 77(a), as amended, or in circumstances requiring the disclosure of similar information under the securities exchange act of 1934, 48 Stat. 881, 15 U.S.C. Sec. 78(a), as amended, the registration statement or application may be filed with the director in lieu of the requirements of this section. (4) Any acquiring person shall also deliver a copy of any notice and application required by this section to the state trust company proposed to be acquired within two days after the notice and application is filed with the director. (5) Any acquisition of control in violation of this section shall be ineffective and void. (6) Any person who willfully or intentionally violates this section or any rule adopted pursuant to this section is guilty of a gross misdemeanor pursuant to chapter 9A.20 RCW. Each day's violation shall be considered a separate violation, and any person shall upon conviction be fined not more than one thousand dollars for each day the violation continues.
RCW 30A.42.020 — Washington Code / Title 30A / Chapter 42 / Section 020
RCW 30A.42.020: Definitions.
Status: in_force

For the purposes of this chapter, the following terms shall be defined as follows: (1) "Agency" means an office of an alien bank that is exercising the powers authorized by RCW 30A.42.180 . (2) "Alien bank" means a bank organized under the laws of a foreign country and having its principal place of business in that country, the majority of the beneficial ownership and control of which is vested in citizens of countries other than the United States of America. (3) "Branch" means an office of an alien bank that is exercising the powers authorized by RCW 30A.42.105 , 30A.42.115 , and 30A.42.155 . (4) "Bureau" means an alien bank's operation in this state exercising the powers authorized by RCW 30A.42.230 . (5) "Office" means a branch or agency of an alien bank carrying on business in this state pursuant to this chapter.
RCW 30A.32.040 — Washington Code / Title 30A / Chapter 32 / Section 040
RCW 30A.32.040: Federal home loan bank as depositary.
Status: in_force

Any such bank, insurance company, or association, may designate a federal home loan bank as a depositary for its funds.
RCW 30A.49.040 — Washington Code / Title 30A / Chapter 49 / Section 040
RCW 30A.49.040: Merger to resulting state bank—Exception—Agreement, contents, approval, amendment.
Status: in_force

This section is applicable where there is to be a resulting state bank, except in the case of reorganization and exchange as authorized by this title. (1) The board of directors of each merging state bank shall, by a majority of the entire board, approve a merger agreement which shall contain: (a) The name of each merging state or national bank and location of each office; (b) With respect to the resulting state bank, (i) the name and location of the principal and other offices; (ii) the name and mailing address of each director to serve until the next annual meeting of the stockholders; (iii) the name and mailing address of each officer; (iv) the amount of capital, the number of shares and the par value, if any, of each share; and (v) the amendments to its charters and bylaws; (c) Provisions governing the exchange of shares of the merging state or national banks for such consideration as has been agreed to in the merger agreement; (d) A statement that the agreement is subject to approval by the director and the stockholders of each merging state or national bank; (e) Provisions governing the manner of disposing of the shares of the resulting state bank if such shares are to be issued in the transaction and are not taken by dissenting shareholders of merging state or national banks; (f) Such other provisions as the director requires to discharge his or her duties with respect to the merger; (2) After approval by the board of directors of each merging state bank, the merger agreement shall be submitted to the director for approval, together with certified copies of the authorizing resolutions of each board of directors showing approval by a majority of the entire board and evidence of proper action by the board of directors of any merging national bank; (3) Within sixty days after receipt by the director of the papers specified in subsection (2) of this section, the director shall approve or disapprove of the merger agreement, and if no action is taken, the agreement shall be deemed approved. The director shall approve the agreement if it appears that: (a) The resulting state bank meets the requirements of state law as to the formation of a new state bank; (b) The agreement provides an adequate capital structure including surplus in relation to the deposit liabilities of the resulting state bank and its other activities which are to continue or are to be undertaken; (c) The agreement is fair; (d) The merger is not contrary to the public interest. If the director disapproves an agreement, he or she shall state his or her objections and give an opportunity to the merging state or national banks to amend the merger agreement to obviate such objections.
RCW 30B.44B.090 — Washington Code / Title 30B / Chapter 44B / Section 090
RCW 30B.44B.090: Objections to approved claims.
Status: in_force

Objection may be made by any interested person to any claim approved by the director, which objection shall be determined by the superior court upon notice to the claimant and objector as the superior court shall prescribe.
RCW 30B.04.120 — Washington Code / Title 30B / Chapter 04 / Section 120
RCW 30B.04.120: Investment in state trust company facilities.
Status: in_force

A state trust company may purchase, hold, and convey real estate, including facilities, for the purposes permissible for state banks under RCW 30A.04.210 .
RCW 30A.56.030 — Washington Code / Title 30A / Chapter 56 / Section 030
RCW 30A.56.030: Business during postponement.
Status: in_force

During postponement of payments the bank shall remain open for business and be in charge of its officers, but shall not make any loans, investments or expenditures except such as the director will approve as necessary to conserve its assets and pay the cost of operation. The bank's failure during a period of postponement to repay deposits existing at the commencement of the period, shall not authorize or require the director to take charge of or liquidate the bank, nor constitute ground for the appointment of a receiver.
RCW 30A.32.020 — Washington Code / Title 30A / Chapter 32 / Section 020
RCW 30A.32.020: Investment in federal home loan bank stock or bonds.
Status: in_force

Any savings and loan association, building and loan association, bank, savings bank, or mutual savings bank may become a member of and invest its funds in the bonds and/or the capital stock of a federal home loan bank, and vote such stock in the manner prescribed by its board of directors.
RCW 30A.26.110 — Washington Code / Title 30A / Chapter 26 / Section 110
RCW 30A.26.110: Duties and liability of bank.
Status: in_force

(1) A bank does not have a fiduciary duty to any person with respect to a special deposit. (2) When the bank holding a special deposit becomes obligated to pay a beneficiary, a debtor-creditor relationship arises between the bank and beneficiary. (3) The bank holding a special deposit has a duty to a beneficiary to comply with the account agreement and this chapter. (4) If the bank holding a special deposit does not comply with the account agreement or this chapter, the bank is liable to a depositor or beneficiary only for damages proximately caused by the noncompliance. Except as provided by other law of this state, the bank is not liable for consequential, special, or punitive damages. (5) The bank holding a special deposit may rely on records presented in compliance with the account agreement to determine whether the bank is obligated to pay a beneficiary. (6) If the account agreement requires payment on presentation of a record, the bank shall determine within a reasonable time whether the record is sufficient to require payment. If the agreement requires action by the bank on presentation of a record, the bank is not liable for relying in good faith on the genuineness of the record if the record appears on its face to be genuine. (7) Unless the account agreement provides otherwise, the bank is not required to determine whether a permissible purpose stated in the account agreement continues to exist.
RCW 30A.04.560 — Washington Code / Title 30A / Chapter 04 / Section 560
RCW 30A.04.560: Reorganization as subsidiary of bank holding company—Dissenter's rights—Conditions.
Status: in_force

If the shareholders approve the reorganization by a two-thirds vote of each class of shares entitled to vote under the terms of such shares, and if it is thereafter approved by the director and consummated, any shareholder of the banking corporation who has voted shares against such reorganization at such meeting or has given notice in writing at or prior to such meeting to the banking corporation that he or she dissents from the plan of reorganization and has not voted in favor of the reorganization, shall be entitled to receive the value of the shares determined as provided in RCW 30A.04.565 . Such dissenter's rights must be exercised by making written demand which shall be delivered to the corporation at any time within thirty days after the date of shareholder approval, accompanied by the surrender of the appropriate stock certificates.
RCW 30A.22.260 — Washington Code / Title 30A / Chapter 22 / Section 260
RCW 30A.22.260: Promotional contests of chance—Director's authority.
Status: in_force

(1) If approved by its board of directors, a financial institution may conduct a promotional contest of chance as permitted under RCW 9.46.0356 (1)(b). (2) A financial institution must not conduct a savings promotional contest of chance, if, in the opinion of the director: (a) It is likely to or does adversely affect the financial institution's safety and soundness; (b) It is administered in an unsafe and unsound or imprudent manner, or in a manner that is likely to or does result in actual or potential reputational harm to the financial institution; or (c) It is likely to or has misled the financial institution's members, depositors, or the general public. (3) The director may examine the conduct of a promotional contest of chance pursuant to his or her supervisory and examination powers under: (a) *Title 30 RCW, in regard to a bank; (b) Title 32 RCW, in regard to a mutual or stock savings bank; or (c) Chapter 31.12 RCW, in regard to a state credit union. (4) The director may exercise his or her full enforcement powers under the titles and chapter in subsection (3) of this section and may issue a cease and desist order for a violation of this section. (5) A financial institution must maintain records sufficient to facilitate an audit of a promotional contest of chance, and must provide those records to the director upon request.
RCW 30B.46.040 — Washington Code / Title 30B / Chapter 46 / Section 040
RCW 30B.46.040: Supervisory directive or corrective action order—Appointment of representative.
Status: in_force

During the period of a supervisory directive or corrective action order, the director may appoint a representative to supervise the state trust company.
RCW 30A.98.060 — Washington Code / Title 30A / Chapter 98 / Section 060
RCW 30A.98.060: Emergency—1955 c 33.
Status: in_force

This act is necessary for the immediate preservation of the public peace, health and safety, the support of the state government and its existing public institutions, and shall take effect immediately.
RCW 30A.04.127 — Washington Code / Title 30A / Chapter 04 / Section 127
RCW 30A.04.127: Formation, incorporation, or investment in corporations or other entities authorized—Approval—Exception.
Status: in_force

(1) A bank, alone or in conjunction with other entities, may form, incorporate, or invest in corporations or other entities, whether or not such other corporation or entity is related to the bank's business. The aggregate amount of funds invested, or used in the formation of corporations or other entities under this section shall not exceed ten percent of the assets or fifty percent of the net worth, whichever is less, of the bank. For purposes of this subsection, "net worth" means the aggregate of capital, surplus, undivided profits, and all capital notes and debentures which are subordinate to the interest of depositors. (2) A bank may engage in an activity permitted under this section only with the prior authorization of the director and subject to such requirements, restrictions, or other conditions as the director may adopt by rule, order, directive, standard, policy, memorandum, or other written communication with regard to the activity. In approving or denying a proposed activity, the director shall consider the financial and management strength of the institution, the convenience and needs of the public, and whether the proposed activity should be conducted through a subsidiary or affiliate of the bank. The director may not authorize under this section and no bank may act as an insurance or travel agent unless otherwise authorized by state statute.
RCW 30A.44.180 — Washington Code / Title 30A / Chapter 44 / Section 180
RCW 30A.44.180: Unclaimed dividends on voluntary liquidation.
Status: in_force

Whenever any bank shall voluntarily liquidate, any dividends to depositors or other creditors of such bank remaining uncalled for and unpaid at the conclusion of the liquidation shall be transmitted to the director and shall be deposited by him or her in a bank or trust company to his or her credit in trust for the benefit of the persons entitled thereto, and shall be paid by him or her to them upon receipt of satisfactory evidence of their right thereto. All moneys so deposited remaining unclaimed for five years after deposit shall escheat to the state for the benefit of the permanent school fund and shall be paid by the director into the state treasury. It shall not be necessary to have the escheat adjudged in a suit or action.
RCW 30A.44.160 — Washington Code / Title 30A / Chapter 44 / Section 160
RCW 30A.44.160: Voluntary closing—Possession of the director—Notice.
Status: in_force

(1) Subject to the consent of the director, a bank may voluntarily stipulate and consent to an order taking possession and thereby place itself under the control of the director to be liquidated and be made subject to receivership as provided in this chapter. (2) Upon issuance of such order taking possession, the bank shall post a notice on its door as follows: "This bank is in the possession of the Director of the Washington State Department of Financial Institutions." (3) The posting of such notice or the taking possession of any bank by the director shall be sufficient to place all of its assets and property of every nature in his or her possession and bar all attachment proceedings.
RCW 30A.49.080 — Washington Code / Title 30A / Chapter 49 / Section 080
RCW 30A.49.080: Resulting bank as same business and corporate entity—Use of name of merging, converting bank.
Status: in_force

A resulting state or national bank shall be the same business and corporate entity as each merging state or national bank or as the converting state or national bank with all property, rights, powers and duties of each merging state or national bank or the converting state or national bank, except as affected by the state law in the case of a resulting state bank or the federal law in the case of a resulting national bank, and by the charter and bylaws of the resulting state or national bank. A resulting state or national bank shall have the right to use the name of any merging state or national bank or of the converting bank whenever it can do any act under such name more conveniently. Any reference to a merging or converting state or national bank in any writing, whether executed or taking effect before or after the merger or conversion, shall be deemed a reference to the resulting state or national bank if not inconsistent with the other provisions of such writing.
RCW 30A.98.020 — Washington Code / Title 30A / Chapter 98 / Section 020
RCW 30A.98.020: Title, chapter, section headings not part of law.
Status: in_force

Title headings, chapter headings, and section or subsection headings, as used in this title do not constitute any part of the law.
RCW 30A.08.092 — Washington Code / Title 30A / Chapter 08 / Section 092
RCW 30A.08.092: Increase or decrease of capital stock authorized.
Status: in_force

A bank may increase or decrease its capital stock by amendment to its articles of incorporation. No issuance of capital stock shall be valid, until the amount thereof shall have been actually paid in. No reduction of the capital stock shall be made to an amount less than is required for capital by the director.
RCW 30A.12.130 — Washington Code / Title 30A / Chapter 12 / Section 130
RCW 30A.12.130: Trust company as legal representative—Oath by officer.
Status: in_force

When any trust company shall be appointed executor, administrator, or trustee of any estate or guardian of the estate of any infant or other incompetent, it shall be lawful for any duly authorized officer of such corporation to take and subscribe for such corporation any and all oaths or affirmations required of such an appointee.
RCW 30B.04.010 — Washington Code / Title 30B / Chapter 04 / Section 010
RCW 30B.04.010: Name of trust institution—Use of trust in name.
Status: in_force

(1) A state trust company or out-of-state trust institution may register any name with the department in connection with establishing an office or otherwise engaged in trust business in Washington state pursuant to this title, except that the director may determine that a name proposed to be registered is potentially misleading to the public and require the registrant to select a name which is not potentially misleading. (2) Use of "trust" as part of a person's name or fictitious trade name, or as part of a trademark or service mark in connection with transacting business with the public, or as part of advertising by any person to the public, is subject to the prohibitions and restrictions under RCW 30A.04.020 .
RCW 30A.04.285 — Washington Code / Title 30A / Chapter 04 / Section 285
RCW 30A.04.285: Director's approval of a branch—Satisfactory financial condition—Affiliated commercial locations.
Status: in_force

(1) The director's approval of a branch within the United States or any territory of the United States or in any foreign country shall be conditioned on a finding by the director that the bank has a satisfactory record of compliance with applicable laws and has a satisfactory financial condition. A bank chartered under this title may exercise any powers and authorities at any branch outside Washington that are permissible for a bank operating in that state where the branch is located, except to the extent those activities are expressly prohibited by the laws of this state or by any rule or order of the director applicable to the state bank. However, the director may waive any limitation in writing with respect to powers and authorities that the director determines do not threaten the safety or soundness of the state bank. (2) An out-of-state bank may acquire, establish, or maintain a branch in Washington within one mile of an affiliate commercial location only to the same extent permitted for a Washington bank under applicable state and federal law. For purposes of this subsection, "bank" means any national bank, state bank, and district bank, as defined in 12 U.S.C. Sec. 1813(a); "out-of-state bank" means a bank whose home state is a state other than Washington; and "Washington bank" means a bank whose home state is Washington. "Home state" has the same meaning as defined in RCW 30A.38.005 .
RCW 30B.10.160 — Washington Code / Title 30B / Chapter 10 / Section 160
RCW 30B.10.160: Hearing—Schedule—Default.
Status: in_force

(1) The hearing shall be held not earlier than ten days or later than thirty days after service of the notice set forth in RCW 30B.10.150 , unless a later date is set by the director for good cause as requested by the respondent. (2) Unless the respondent appears at the hearing set forth in subsection (1) of this section, a default order granting any of the remedies or sanctions set forth in the notice and statement of charges may be issued by the presiding officer, consistent with RCW 34.05.440 (2). (3) A respondent may file with the presiding officer, within seven days of service of the default order, a motion to set aside a default order consistent with RCW 34.05.440 (3). If the presiding officer does not issue a ruling within five business days of the motion being filed, then the motion to set aside is denied.
RCW 30B.10.020 — Washington Code / Title 30B / Chapter 10 / Section 020
RCW 30B.10.020: Director to act under authority of the department's division of banks.
Status: in_force

All the powers, duties, and functions granted to or imposed upon the director under this title shall be exercised under the direction and supervision of the department's division of banks, subject to the delegation, oversight, and supervision of the director. Wherever provision is made in any law in effect on January 5, 2015, authorizing and permitting the director to adopt rules and regulations with respect to any actions or things required to be done under this title, such rules and regulations shall be made by the department's division of banks, and the words "the director" used in such statutes authorizing the director to make rules and regulations, shall be construed to mean the department's division of banks, and the words "department" substituted in such statutes for "director."
RCW 30B.08.110 — Washington Code / Title 30B / Chapter 08 / Section 110
RCW 30B.08.110: Internet trust business.
Status: in_force

(1) A person engaged in trust business in this state by use of the internet is subject to regulation by the department under this title, unless it is: (a) An out-of-state trust institution approved under chapter 30B.38 RCW or acting under authority of RCW 30B.72.010 ; or (b) An exempt person under RCW 30B.04.040 . (2) The director may adopt rules specific to the regulation of internet trust businesses in the interest of protecting Washington state citizens.
RCW 30A.44.250 — Washington Code / Title 30A / Chapter 44 / Section 250
RCW 30A.44.250: Reopening.
Status: in_force

Whenever the director has taken possession of a bank for any cause, he or she may wind up such corporation and cancel its certificate of authority, unless enjoined from so doing, as herein provided. Or if at any time within ninety days after taking possession, he or she shall determine that all impairment and delinquencies have been made good, and that it is safe and expedient for such corporation to reopen, he or she may permit such corporation to reopen upon such terms and conditions as he or she shall prescribe. Before being permitted to reopen, every such corporation shall pay all of the expenses of the director, as herein elsewhere defined.
RCW 30B.44B.040 — Washington Code / Title 30B / Chapter 44B / Section 040
RCW 30B.44B.040: Director's right to take possession may be contested.
Status: in_force

(1) Within ten days after the director takes possession of a state trust company pursuant to RCW 30B.44B.005 , the state trust company may serve a notice upon the director to appear before the superior court of the county where the headquarters of the state trust company is located and at a time to be fixed by the court, which shall not be less than five nor more than fifteen days from the date of the service of such notice, to show cause why the director's action taking possession of the state trust company should not be affirmed. (2) Upon the return day of such notice, or such further day as the matter may be continued to, the court shall summarily hear the show-cause petition and shall dismiss it, if the court finds that possession of the state trust company was taken by the director in good faith and for cause. If, however, the court finds that no cause existed for taking possession of the state trust company, the court shall require the director to restore the state trust company to possession of its assets and enjoin the director from further interference with the state trust company without cause.
RCW 30B.44B.120 — Washington Code / Title 30B / Chapter 44B / Section 120
RCW 30B.44B.120: Expense of liquidation—Priority for director's expenses.
Status: in_force

(1) All expenses incurred by the director in taking possession, administering, and resolving any state trust company dissolved pursuant to this chapter, including the expenses of assistants or agents and reasonable fees for any attorney who may be employed in connection with such administration and resolution, and the reasonable compensation of any special assistant or agent placed in charge of such dissolved state trust company, shall be a priority charge upon the assets of the dissolved state trust company and shall be senior to any approved third-party claims. (2) Such charges for expenses as set forth in subsection (1) of this section shall be fixed by the director, subject to the approval of the superior court.
RCW 30B.10.045 — Washington Code / Title 30B / Chapter 10 / Section 045
RCW 30B.10.045: Examinations—Requirements—Reciprocal agreements permitted—Records, books, and accounts.
Status: in_force

(1) The director shall visit each state trust company at least once every twenty-four months, and more often as determined by the director, for the purpose of making a full investigation into the condition of such state trust company. (2) The director may make such other full or partial examinations as deemed necessary and may visit and examine any affiliate of a state trust company, obtain reports of condition for any such affiliate, and shall have full access to all the books, records, papers, securities, correspondence, bank accounts, and other papers of such business for such purposes. (3) Before the director may issue notice of its intent to visit and directly examine a third-party service provider without a subpoena pursuant to RCW 30B.10.120 , the director must find: (a) That the third-party service provider either: (i) Performs services for the state trust company that appear to be necessary for the state trust company to meet its fiduciary duty, operate in a safe and sound manner, or otherwise comply with this title and other applicable law; or (ii) Appears that the state trust company cannot extricate itself from its client-vendor relationship without adverse material consequences or prolonged delay, including inability to timely find a replacement vendor as third-party service provider; (b) That either: (i) The information sought by the director cannot be otherwise accessed or verified by the records of the state trust company without direct examination of the records of the third-party service provider that relate to the state trust company; or (ii) The third-party service provider manages an application, process, or system for the benefit of the state trust company, the integrity of which cannot be evaluated without direct examination; and (c) That it appears prior to direct examination of the third-party service provider that an act or omission of the third-party service provider sought to be examined has resulted in a significant heightened risk of the state trust company not meeting its fiduciary duty, committing an unsafe practice or operating in an unsafe or unsound manner, or otherwise violating a provision of this title or other applicable law. (4) Subject to notice to a state trust company and its third-party service provider accompanied by a written finding by the director that the conditions of subsection (3) of this section have been met, the director may visit and directly examine a third-party service provider of a state trust company in order to determine whether the state trust company, on account of an act or omission of the third-party service provider, is in compliance with this title and other applicable law including, without limitation, the provisions of chapter 30B.24 RCW. If prerequisites for direct examination of such third-party service provider conform to this subsection, then a subpoena pursuant to RCW 30B.10.120 shall not be required prior to a visitation and examination of such third-party service provider. (5) Any willful false swearing in any examination is perjury in the second degree. (6) The director may enter into cooperative and reciprocal agreements with the trust institution regulatory authorities of the United States and other states and United States territories, for the periodic examination of state trust institutions and their affiliates. The director may accept reports of examination and other records from such authorities in lieu of conducting his or her own examinations. The director may enter into joint actions with other regulatory bodies having concurrent jurisdiction or may enter into such actions independently to carry out his or her responsibilities under this title and assure compliance with the laws of Washington state. (7) Copies from the records, books, and accounts of a state trust institution or its affiliate shall be competent evidence in all cases, equal with originals thereof, if there is attached to such copies a declaration under penalty of perjury stating that the declarant is the officer of the state trust institution or its affiliate having charge of the original records, and that the copy is true and correct and is full so far as the same relates to the subject matter therein mentioned.
RCW 30B.10.190 — Washington Code / Title 30B / Chapter 10 / Section 190
RCW 30B.10.190: Order of prohibition against third-party service providers—Grounds—Notice.
Status: in_force

(1) The director may issue and serve a state trust institution, or its affiliate, with written notice of intent to prohibit it from permitting a third-party service provider of such state trust institution or affiliate from participating in the conduct of the affairs of the state trust institution, whenever: (a) The third-party service provider commits an unsafe or unsound practice, or a violation or practice involving a breach of fiduciary duty, personal dishonesty, recklessness, or incompetence; and (b)(i) The state trust institution or its affiliate has suffered or is likely to suffer substantial financial loss or other damage; or (ii) The interests of the state trust institution, or its affiliate, or their beneficiaries, trustors, shareholders, or the general public in Washington state could be seriously prejudiced by reason of the violation or practice of the third-party service provider. (2) The director shall also serve any affected third-party service provider with the notice described in subsection (1) of this section, and such third-party service provider shall be deemed a real party in interest with the same right to notice and right to intervene in the administrative action and defend against it as if the third-party service provider were the respondent.
RCW 30A.22.110 — Washington Code / Title 30A / Chapter 22 / Section 110
RCW 30A.22.110: Controversies between owners.
Status: in_force

*RCW 30.22.090 and 30.22.100 are intended to establish ownership of funds on deposit in the accounts stated, as between depositors and/or trust or P.O.D. account beneficiaries, and the provisions thereof are relevant only as to controversies between such persons and their creditors, and other successors, and have no bearing on the power of any person to receive payment of funds maintained in the accounts or the right of a financial institution to make payments to any person as provided by the terms of the contract of deposit.
RCW 30A.98.045 — Washington Code / Title 30A / Chapter 98 / Section 045
RCW 30A.98.045: Prior investments or transactions not affected.
Status: in_force

This title does not affect the legality of investments, made prior to January 5, 2015, or of transactions had before January 5, 2015, pursuant to any provisions of law in force when such investments were made or transactions had.
RCW 30B.04.100 — Washington Code / Title 30B / Chapter 04 / Section 100
RCW 30B.04.100: Investment in corporations—Subsidiaries.
Status: in_force

Except as otherwise provided by this chapter or rules adopted under this chapter, a state trust company may invest in corporations, limited liability companies, and other entities, and may acquire or establish a *subsidiary to conduct any activity that may lawfully be conducted through the form of organization chosen for the *subsidiary, in accordance with that which is permissible for state banks under RCW 30A.04.125 and 30A.04.127 .
RCW 30A.04.475 — Washington Code / Title 30A / Chapter 04 / Section 475
RCW 30A.04.475: Order to refrain from violations or practices—Jurisdiction of courts in enforcement or issuance of orders, injunctions, or judicial review.
Status: in_force

(1) The director may apply to the superior court of the county of the principal place of business of the bank affected for the enforcement of any effective and outstanding order issued under RCW 30A.04.450 , 30A.04.455 , 30A.04.465 , or 30A.12.042 , and the court shall have jurisdiction to order compliance therewith. (2) No court shall have jurisdiction to affect by injunction or otherwise the issuance or enforcement of any order or to review, modify, suspend, terminate, or set aside any order except as provided in RCW 30A.04.460 , 30A.04.465 , and 30A.04.470 .
RCW 30B.24.040 — Washington Code / Title 30B / Chapter 24 / Section 040
RCW 30B.24.040: Written statement of principles of trust management required—Contents.
Status: in_force

(1) The board of directors of a state trust company shall adopt a written statement of principles of trust management at its first organizational meeting or at a meeting of the board called for that purpose, which it must annually reaffirm by written vote, whether or not such statement is sought to be amended. (2) The statement of principles of trust management shall set forth the minimum requirements for sound fiduciary management in the operation of a state trust company. Such minimum requirements shall provide for sound fiduciary practices in the operation of a state trust company and provide safeguards for the protection of fiduciary beneficiaries, principals of agency relationships, creditors, stockholders, and the public, and shall provide for: (a) Involvement by the board of directors in providing for the establishment and continuing fiduciary operations; (b) Operation of fiduciary activities separate and apart from every other activity of the state trust company, with trust assets separated from other assets owned by the state trust company, and the assets of each trust account separated from the assets of every other trust account; and (c) Maintenance of separate books and records for the fiduciary business in sufficient detail to properly reflect all fiduciary activities. (3) The statement of principles of trust management shall provide that the board of directors, by resolution included in its minutes: (a) Designate a competent and qualified officer or manager to be responsible for and administer the fiduciary activities of the state trust company; (b) Define such officer's or manager's duties; (c) Name a trust committee consisting of at least three directors to be responsible for and supervise the fiduciary activities of the state trust company or state banking institution, which shall include, if feasible, one or more directors who are not officers of the state trust company or state banking institution; (d) Receive reports from such trust committee and record actions taken in its minutes; (e) Review the examination reports of the state trust company by the department or other applicable financial services regulatory authority having jurisdiction over the state trust company; and (f) Record all actions taken in its minutes. (4) Nothing in this section is intended to prohibit the board of directors from authorizing itself to act as the trust committee, or from authorizing itself to appoint additional committees and officers to oversee account administration and the operation of the state trust company and its fiduciary activities. (5) When such statement provides for delegating duties to a subcommittee or officers, the statement shall indicate that the board and the trust committee remain responsible for the oversight of all trust company and fiduciary activities. Such statement shall also reflect that sufficient reporting and monitoring procedures are required to fulfill this responsibility. (6) The statement of principles of trust management shall provide that the trust committee: (a) Meet at least quarterly, and more frequently if considered necessary and prudent to fulfill its supervisory responsibilities; (b) Approve and document: (i) The opening of all new fiduciary accounts; (ii) Purchases and sales of, and changes in, trust assets; and (iii) The closing of trust and agency relationship accounts; (c) Provide for a comprehensive review of all new accounts, for which the state trust company or trust department has investment responsibility, promptly following acceptance; (d) Provide for a review of each fiduciary and agency account, including collective investment funds, at least once during each calendar year, the scope, frequency, and level of review of which should be addressed in appropriate written policies that give consideration to the state trust company's fiduciary responsibilities, type and size of account, and other relevant factors, including coverage of both administration of the account and suitability of the account's investments, distinguishing as between the scope and components of discretionary and nondiscretionary reviews; (e) Keep comprehensive minutes of meetings held and actions taken; and (f) Make periodic reports to the board of directors of its actions. (7) The statement of principles of trust management shall also require: (a) Comprehensive written policies which address all important areas of the state trust company's fiduciary activities; (b) Competent legal counsel to advise trust officers and the trust committee on legal matters pertaining to fiduciary activities; (c) Adequate internal controls, including appropriate controls over fiduciary assets; and (d) An adequate annual audit of all fiduciary activities by an internal or external auditor, as required by the department, the findings of which, including actions taken as a result of the audit, must be recorded in its minutes. (8) Notwithstanding subsection (7)(d) of this section, the statement of principles of trust management may provide that, if a state trust company adopts a continuous audit process instead of performing annual audits, such audits may be performed, on an activity-by-activity basis, at intervals commensurate with the level of risk associated with that activity. In such case, the statement must reflect that audit intervals are to be supported and reassessed regularly to ensure appropriateness, given the current risk and volume of the activity.
RCW 30A.26.900 — Washington Code / Title 30A / Chapter 26 / Section 900
RCW 30A.26.900: Effective date—2024 c 23.
Status: in_force

This act takes effect July 1, 2024.
RCW 30B.46.100 — Washington Code / Title 30B / Chapter 46 / Section 100
RCW 30B.46.100: Duration of conservator's term—Rehabilitated state trust company—Management.
Status: in_force

(1) The conservator shall serve for such time as is necessary to accomplish the purposes of the conservatorship as intended by this chapter. (2) If rehabilitated, the rehabilitated state trust company shall be returned to preexisting management or new management under such conditions as are reasonable and necessary to prevent recurrence of the condition which occasioned the conservatorship.
RCW 31.04.505 — Washington Code / Title 30A / Chapter 04 / Section 505
RCW 31.04.505: Definitions.
Status: in_force

The definitions in this section apply throughout this chapter unless the context clearly requires otherwise. (1) "FHA-approved reverse mortgage" means a "home equity conversion mortgage" or other reverse mortgage product guaranteed or insured by the federal department of housing and urban development. (2) "Owner-occupied residence" is the borrower's residence and includes a life estate property the legal title for which is held in the name of the borrower in a reverse mortgage transaction or in the name of a trust, provided the occupant of the property is the beneficiary of that trust. (3) "Proprietary reverse mortgage loan" is any reverse mortgage loan product that is not a home equity conversion mortgage loan or other federally guaranteed or insured loan. (4) "Reverse mortgage broker or lender" means a licensee under the Washington state consumer loan act, chapter 31.04 RCW, or a person exempt from licensing pursuant to federal law. (5) "Reverse mortgage loan" means a nonrecourse consumer credit obligation in which: (a) A mortgage, deed of trust, or equivalent consensual security interest securing one or more advances is created in the borrower's dwelling; (b) Any principal, interest, or shared appreciation or equity is due and payable, other than in the case of default, only after: (i) The consumer dies; (ii) The dwelling is transferred; or (iii) The consumer ceases to occupy the dwelling as a dwelling; and (c) The broker or lender is licensed under Washington state law or exempt from licensing under federal law.As used in RCW 30A.04.505 through 30A.04.515 : (1) "Financial institution" means any bank, savings bank, credit union, mortgage company, or savings and loan association which operates or has a place of business in this state whether regulated by the state or federal government. (2) "Particular type of loan" refers to a class of loans which is substantially similar with respect to the following: (a) FHA, VA, or conventional loans; (b) Uniform or nonuniform payment; (c) Uniform or nonuniform rate of interest; (d) Purpose; and (e) The location of the real estate offered as security for the loan as being inside or outside of that financial institution's lending area. (3) "Varying the terms of a loan" includes, but is not limited to the following practices: (a) Requiring a greater down payment than is usual for the particular type of a loan involved; (b) Requiring a shorter period of amortization than is usual for the particular type of loan involved; (c) Charging a higher interest rate than is usual for the particular type of loan involved; (d) A deliberate underappraisal of the value of the property offered as security.
RCW 30A.08.010 — Washington Code / Title 30A / Chapter 08 / Section 010
RCW 30A.08.010: Incorporators—Paid-in capital stock, surplus, and undivided profits—Requirements.
Status: in_force

When authorized by the director, as hereinafter provided, one or more natural persons, citizens of the United States, may incorporate a bank in the manner herein prescribed. No bank shall incorporate for less amount nor commence business unless it has a paid-in capital stock, surplus and undivided profits in the amount as may be determined by the director after consideration of the proposed location, management, and the population and economic characteristics for the area, the nature of the proposed activities and operation of the bank, and other factors deemed pertinent by the director. Each bank shall before commencing business have subscribed and paid into it in the same manner as is required for capital stock, an amount equal to at least ten percent of the capital stock above required, that shall be carried in the undivided profit account and may be used to defray organization and operating expenses of the company. Any sum not so used shall be transferred to the surplus fund of the company before any dividend shall be declared to the stockholders.
RCW 30A.46.050 — Washington Code / Title 30A / Chapter 46 / Section 050
RCW 30A.46.050: Costs as charge against bank's assets.
Status: in_force

All costs incident to supervisory direction and the conservatorship shall be fixed and determined by the director and shall be a charge against the assets of the bank, excluding trust assets under management, to be allowed and paid as the director may determine.
RCW 30A.22.100 — Washington Code / Title 30A / Chapter 22 / Section 100
RCW 30A.22.100: Ownership of funds after death of a depositor.
Status: in_force

Subject to community property rights and subject to the terms and provisions of any community property agreement, upon the death of a depositor: (1) Funds which remain on deposit in a single account belong to the depositor's estate. (2) Funds belonging to a deceased depositor which remain on deposit in a joint account without right of survivorship belong to the depositor's estate, unless the depositor has also designated a trust or P.O.D. account beneficiary of the depositor's interest in the account. (3) Funds belonging to a deceased depositor which remain on deposit in a joint account with right of survivorship belong to the surviving depositors unless there is clear and convincing evidence of a contrary intent at the time the account was created. If there is more than one individual having right of survivorship, the funds belong equally to the surviving depositors unless the contract of deposit otherwise provides. If there is more than one surviving depositor, the rights of survivorship shall continue between the surviving depositors. (4) Funds remaining on deposit in a trust or P.O.D. account belong to the trust or P.O.D. account beneficiary designated by the deceased depositor unless the account has also been designated as a joint account with right of survivorship, in which event the funds remaining on deposit in the account do not belong to the trust or P.O.D. account beneficiary until the death of the last surviving depositor and the rights of the surviving depositors shall be determined by subsection (3) of this section. If the deceased depositor has designated more than one trust or P.O.D. account beneficiary, and more than one of the beneficiaries survive the depositor, the funds belong equally to the surviving beneficiaries unless the depositor has specifically designated a different method of distribution in the contract of deposit; if two or more beneficiaries survive, there is no right of survivorship as between them unless the terms of the account or deposit agreement expressly provide for rights of survivorship between the beneficiaries. (5) Upon the death of a depositor of an agency account, the agency shall terminate and any funds remaining on deposit belonging to the deceased depositor shall become the property of the depositor's estate or such other persons who may be entitled thereto, depending upon whether the account was a single account, joint account, joint account with right of survivorship, or a trust or P.O.D. account. Any transfers to surviving depositors or to trust or P.O.D. account beneficiaries pursuant to the terms of this section are declared to be effective by reason of the provisions of the account contracts involved and this chapter and are not to be considered as testamentary dispositions. The rights of survivorship and of trust and P.O.D. account beneficiaries arise from the express terms of the contract of deposit and cannot, under any circumstances, be changed by the will of a depositor.
RCW 30A.04.555 — Washington Code / Title 30A / Chapter 04 / Section 555
RCW 30A.04.555: Reorganization as subsidiary of bank holding company—Procedure.
Status: in_force

A reorganization authorized under RCW 30A.04.550 shall be carried out in the following manner: (1) A plan of reorganization specifying the manner in which the reorganization shall be carried out must be approved by a majority of the entire board of directors of the banking corporation. The plan shall specify the name of the acquiring corporation, the amount of cash, securities of the bank holding company, other consideration, or any combination thereof to be paid to the shareholders of the reorganizing corporation in exchange for their shares of the stock of the corporation. The plan shall also specify the exchange date or the manner in which such exchange date shall be determined, the manner in which the exchange shall be carried out, and such other matters, not inconsistent with this chapter, as shall be determined by the board of directors of the corporation. (2) The plan of reorganization shall be submitted to the shareholders of the reorganizing corporation at a meeting to be held on the call of the directors. Notice of the meeting of shareholders at which the plan shall be considered shall be given by prepaid first-class mail at least twenty days before the date of the meeting, to each stockholder of record of the banking corporation. The notice shall state that dissenting shareholders will be entitled to payment of the value of only those shares which are voted against approval of the plan.
RCW 30A.49.020 — Washington Code / Title 30A / Chapter 49 / Section 020
RCW 30A.49.020: State bank to resulting national bank—Laws applicable—Vote required—Termination of franchise.
Status: in_force

This section is applicable where there is to be a resulting national bank. Nothing in the law of this state shall restrict the right of a state bank to merge with or convert into a resulting national bank. The action to be taken by such merging or converting state bank and its rights and liabilities and those of its shareholders shall be the same as those prescribed at the time of the action for national banks merging with or converting into a resulting state bank by the law of the United States, and not by the law of this state, except that a vote of the holders of two-thirds of each class of voting stock of a state bank shall be required for the merger or conversion, and that on conversion by a state into a national bank the rights of dissenting stockholders shall be those specified in RCW 30A.49.090 . Upon the completion of the merger or conversion, the franchise of any merging or converting state bank shall automatically terminate.
RCW 30B.04.060 — Washington Code / Title 30B / Chapter 04 / Section 060
RCW 30B.04.060: Confidentiality of examination information.
Status: in_force

This title does not limit the privileges, immunities, and requirements of RCW 42.56.400 (6), 30A.04.075 , 32.04.220 , and 33.04.110 in relation to trust companies, state banks, and state savings associations.
RCW 30B.04.170 — Washington Code / Title 30B / Chapter 04 / Section 170
RCW 30B.04.170: Choice of law when instrument silent.
Status: in_force

Except as set forth in RCW 30B.04.160 , choice of law is governed by RCW 11.98.005 .
RCW 30A.46.080 — Washington Code / Title 30A / Chapter 46 / Section 080
RCW 30A.46.080: Duration of conservator's term—Rehabilitated banks—Management.
Status: in_force

The conservator shall serve for such time as is necessary to accomplish the purposes of the conservatorship as intended by this chapter. If rehabilitated, the rehabilitated bank shall be returned to management or new managements under such conditions as are reasonable and necessary to prevent recurrence of the condition which occasioned the conservatorship.
RCW 30A.04.605 — Washington Code / Title 30A / Chapter 04 / Section 605
RCW 30A.04.605: Directors, committees—Actions authorized without meetings—Written consent.
Status: in_force

Unless otherwise provided by the articles of incorporation or bylaws, any action required by this title to be taken at a meeting of the directors of a bank or trust company, or any action which may be taken at any meeting of the directors or of a committee, may be taken without a meeting if a consent in writing, setting forth the action so taken, shall be signed by all of the directors, or all of the members of the committee, as the case may be. Such consent shall have the same effect as a unanimous vote.
RCW 30B.10.130 — Washington Code / Title 30B / Chapter 10 / Section 130
RCW 30B.10.130: Scope of chapter—Remedies.
Status: in_force

(1) This chapter sets forth the authority of the department to supervise and examine state trust institutions and to seek adjudicative enforcement remedies against persons, and their affiliates, officers, directors, managers, employees, and agents, engaged in authorized or nonauthorized and nonexempt trust business in Washington state. (2) None of the provisions in this chapter shall be deemed to be an exclusive remedy of the department, and the department may, as applicable, exercise other remedies set forth elsewhere in this title and in other Washington law including, without limitation: (a) The issuance of a supervisory directive, nonadjudicative corrective action order, or nonadjudicative order of conservatorship pursuant to chapter 30B.46 RCW; and (b) The issuance of nonadjudicative orders for involuntary dissolution and liquidation of a state trust company pursuant to chapter 30B.44B RCW.
RCW 30B.53.020 — Washington Code / Title 30B / Chapter 53 / Section 020
RCW 30B.53.020: Contents of merger agreement—Approval by each board of directors—Requirements for director's approval.
Status: in_force

(1) The board of directors of each merging trust company shall, by a majority of the entire board, approve a merger agreement that must contain: (a) The name of each merging trust company and location of each office; (b) With respect to the resulting trust company, (i) the name and location of the principal and other offices; (ii) the name and mailing address of each director to serve until the next annual meeting of the shareholders; (iii) the name and mailing address of each officer; (iv) the amount of capital, the number of shares, and the par value, if any, of each share; and (v) the amendments to its charters and bylaws; (c) Provisions governing the exchange of shares of the merging trust companies for such consideration as has been agreed to in the merger agreement; (d) A statement that the agreement is subject to approval by the director and the shareholders of each merging trust company; (e) Provisions governing the manner of disposing of the shares of the resulting trust company if the shares are to be issued in the transaction and are not taken by dissenting shareholders of merging trust companies; and (f) Any other provisions the director requires to discharge his or her duties with respect to the merger. (2) After approval by the board of directors of each merging trust company, the merger agreement shall be submitted to the director for approval, together with certified copies of the authorizing resolutions of each board of directors showing approval by a majority of the entire board. Within sixty days after receipt by the director of the merger agreement and resolutions, the director shall approve or disapprove of the merger agreement, and if no action is taken, the agreement is deemed approved. The director shall approve the agreement if it appears that the: (a) Resulting trust company meets the requirements of state law as to the formation of a new trust company; (b) Agreement provides an adequate capital in relation to the deposit liabilities, if any, of the resulting trust company and its other activities which are to continue or are to be undertaken; (c) Agreement is fair; and (d) Merger is not contrary to the public interest. If the director disapproves an agreement, he or she shall state his or her objections and give an opportunity to the merging trust company to amend the merger agreement to obviate such objections.
RCW 30B.10.230 — Washington Code / Title 30B / Chapter 10 / Section 230
RCW 30B.10.230: General penalty—Effect of conviction.
Status: in_force

(1) A person who shall knowingly violate or knowingly aid or abet the violation of any provision of RCW 30B.10.050 shall be guilty of a misdemeanor. (2) A director, officer, manager, employee, or agent of a state trust institution or affiliate who has had imposed upon him or her a criminal conviction for the violation of this title or any other financial services law of this or any other state or of the United States shall not be permitted to engage in or become or remain a board director, officer, manager, employee, or agent of any state trust company or its affiliate doing business in Washington state.
RCW 30A.26.100 — Washington Code / Title 30A / Chapter 26 / Section 100
RCW 30A.26.100: Recoupment or set off.
Status: in_force

(1) Except as provided in subsection (2) or (3) of this section, a bank may not exercise a right of recoupment or set off against a special deposit. (2) An account agreement may authorize the bank to debit the special deposit: (a) When the bank becomes obligated to pay a beneficiary, in an amount that does not exceed the amount necessary to discharge the obligation; (b) For a fee assessed by the bank that relates to an overdraft in the special deposit account; (c) For costs incurred by the bank that relate directly to the special deposit; or (d) To reverse an earlier credit posted by the bank to the balance of the special deposit account, if the reversal occurs under an event or circumstance warranted under other law of this state governing mistake and restitution. (3) The bank holding a special deposit may exercise a right of recoupment or set off against an obligation to pay a beneficiary, even if the bank funds payment from the special deposit.
RCW 30A.26.140 — Washington Code / Title 30A / Chapter 26 / Section 140
RCW 30A.26.140: Uniformity and application and construction.
Status: in_force

In applying and construing this uniform act, a court shall consider the promotion of uniformity of the law among jurisdictions that enact it.
RCW 30A.44.020 — Washington Code / Title 30A / Chapter 44 / Section 020
RCW 30A.44.020: Director may order levy of assessment.
Status: in_force

(1) Whenever it shall in any manner appear to the director that any offense or delinquency referred to in RCW 30A.44.010 has resulted in a bank being critically undercapitalized with no reasonably foreseeable prospect of recovery, or that it has suspended payment of its obligations or is insolvent, the director may notify such bank to levy an assessment on its stock or otherwise to make good such impairment or offense or other delinquency within such time and in such manner as the director may specify, or if the director deems necessary, the director may take possession thereof without notice. (2) The board of directors of any such bank, with the consent of the holders of record of two-thirds of the capital stock expressed either in writing or by vote at a stockholders' meeting called for that purpose, shall have power and authority to levy such assessment upon the stockholders pro rata and to forfeit the stock upon which any such assessment is not paid, in the manner prescribed in RCW 30A.12.180 .
RCW 30A.12.220 — Washington Code / Title 30A / Chapter 12 / Section 220
RCW 30A.12.220: Preemptive rights of shareholders to acquire unissued shares—Articles of incorporation may limit or permit—Later acquisition.
Status: in_force

The articles of incorporation of any bank organized under this title may limit or permit the preemptive rights of a shareholder to acquire unissued shares of the corporation and may thereafter by amendment limit, deny, or grant to shareholders of any class of stock the preemptive right to acquire additional shares of the corporation whether then or thereafter authorized.
RCW 30A.12.180 — Washington Code / Title 30A / Chapter 12 / Section 180
RCW 30A.12.180: Levy of assessments.
Status: in_force

Whenever the director shall notify the board of directors of a bank to levy an assessment upon the stock of such corporation and the holders of two-thirds of the stock shall consent thereto, such board shall, within ten days from the issuance of such notice, adopt a resolution for the levy of such assessment, and shall immediately upon the adoption of such resolution serve notice upon each stockholder, personally or by mail, at his or her last known address, to pay such assessment; and that if the same be not paid within twenty days from the date of the issuance of such notice, his or her stock will be subject to sale and all amounts previously paid thereon shall be subject to forfeiture. If any stockholder fail within said twenty days to pay the assessment as provided in this section, it shall be the duty of the board of directors to cause a sufficient amount of the capital stock of such stockholder to be sold to make good the deficiency. The sale shall be held at such time and place as shall be designated by the board of directors and shall be either public or private, as the board shall deem best. At any time after the expiration of sixty days from the expiration of said twenty-day period the director may require any stock upon which the assessment remains unpaid to be canceled and deducted from the capital of the corporation. If such cancellation shall reduce the capital of the corporation below the minimum required by this title or its articles of incorporation the capital shall, within thirty days thereafter be increased to the required amount by original subscription, in default of which the director may take possession of such corporation in the manner provided by law in case of insolvency.
RCW 30A.22.140 — Washington Code / Title 30A / Chapter 22 / Section 140
RCW 30A.22.140: Payment of funds to a depositor.
Status: in_force

Payments of funds on deposit in a single account may be made by a financial institution to or for the depositor regardless of whether the depositor is, in fact, the actual owner of the funds. Payments of funds on deposit in an account having two or more depositors may be made by a financial institution to or for any one or more of the depositors named on the account without regard to the actual ownership of the funds by or between the depositors, and without regard to whether any other depositor or depositors so named are deceased or incompetent at the time the payments are made.
RCW 30A.04.565 — Washington Code / Title 30A / Chapter 04 / Section 565
RCW 30A.04.565: Reorganization as subsidiary of bank holding company—Valuation of shares of dissenting shareholders.
Status: in_force

The value of the shares of a dissenting shareholder who has properly perfected dissenter's rights shall be ascertained as of the day prior to the date of the shareholder action approving such reorganization by three appraisers, one to be selected by the owners of two-thirds of the dissenting shares, one by the board of directors of the acquiring bank holding company, and the third by the two so chosen. The valuation agreed upon by any two appraisers shall govern. The dissenting shareholders shall bear, on a pro rata basis based on the number of dissenting shares owned, the cost of their appraisal and one-half of the cost of the third appraisal, and the acquiring bank holding company shall bear the cost of its appraisal and one-half of the cost of the third appraisal. If the appraisal is not completed within ninety days after the effective date of the reorganization, the director shall cause an appraisal to be made which shall be final and binding upon all parties. The cost of such appraisal shall be borne equally by the dissenting shareholders and the acquiring bank holding company. The dissenting shareholders shall share their half of the cost on a pro rata basis based on the number of dissenting shares owned.
RCW 30A.22.020 — Washington Code / Title 30A / Chapter 22 / Section 020
RCW 30A.22.020: Purposes.
Status: in_force

The purposes of this chapter are: (1) To provide a consistent law applicable to all financial institutions authorized to accept deposits from individuals with respect to payments by the institutions to individuals claiming rights to the deposited funds; and (2) To qualify and simplify the law concerning the respective ownership interests of individuals to funds held on deposit by financial institutions, both as to the relationship between the individual depositors and beneficiaries of an account, and to the financial institution-depositor-beneficiary relationships; and (3) To simplify and make consistent the law pertaining to payments by financial institutions of deposited funds both before and after the death of a depositor or depositors, including provisions for the validity and effect of certain nontestamentary transfers of deposits upon the death of one or more depositors.
RCW 30A.42.050 — Washington Code / Title 30A / Chapter 42 / Section 050
RCW 30A.42.050: Acquisition or serving on board of directors or trustees of other financial institutions prohibited.
Status: in_force

An alien bank shall not take over or acquire an existing federal or state-chartered bank, trust company, mutual savings bank, savings and loan association, or credit union or any branch of any such bank, trust company, mutual savings bank, savings and loan association, or credit union in this state; nor shall any designee, officer, agent or employee of an alien bank serve on the board of directors of any federal or state bank, trust company, savings and loan association, or credit union, or the board of trustees of a mutual savings bank.
RCW 30A.49.010 — Washington Code / Title 30A / Chapter 49 / Section 010
RCW 30A.49.010: Definitions.
Status: in_force

As used in this chapter: "Merging bank" means a party to a merger; "Converting bank" means a bank converting from a state to a national bank, or the reverse; "Merger" includes consolidation; "Resulting bank" means the bank resulting from a merger or conversion. Wherever reference is made to a vote of stockholders or a vote of classes of stockholders it shall mean only a vote of those entitled to vote under the terms of such shares.
RCW 30A.22.250 — Washington Code / Title 30A / Chapter 22 / Section 250
RCW 30A.22.250: No duty to request information.
Status: in_force

RCW 9.38.015 does not create a duty for financial institutions to request the information set forth in RCW 9.38.015 (1).
RCW 30A.08.060 — Washington Code / Title 30A / Chapter 08 / Section 060
RCW 30A.08.060: Certificate of authority—Issuance—Contents.
Status: in_force

Before any bank shall be authorized to do business, and within ninety days after approval of the articles of incorporation or such other time as the director may allow, it shall furnish proof satisfactory to the director that such corporation has a paid-in capital in the amount determined by the director, that the requisite surplus or reserve fund has been accumulated or paid in cash, and that it has in good faith complied with all the requirements of law and fulfilled all the conditions precedent to commencing business imposed by this title. If so satisfied, and within thirty days after receipt of such proof, the director shall issue under his or her hand and official seal, in triplicate, a certificate of authority for such corporation. The certificate shall state that the corporation therein named has complied with the requirements of law, that it is authorized to transact the business of a bank: PROVIDED, HOWEVER, That the director may make his or her issuance of the certificate to a bank authorized to accept deposits, conditional upon the granting of deposit insurance by the federal deposit insurance corporation, and in such event, shall set out such condition in a written notice which shall be delivered to the corporation. One of the triplicate certificates shall be transmitted by the director to the corporation and one of the other two shall be filed by the director in the office of the secretary of state and shall be attached to the articles of incorporation: PROVIDED, HOWEVER, That if the issuance of the certificate is made conditional upon the granting of deposit insurance by the federal deposit insurance corporation, the director shall not transmit or file the certificate until such condition is satisfied.
RCW 30B.10.090 — Washington Code / Title 30B / Chapter 10 / Section 090
RCW 30B.10.090: Subpoena power and examination under oath.
Status: in_force

The director shall have the power to subpoena witnesses, compel their attendance, require the production of evidence, administer oaths, and examine any person under oath in connection with any subject related to a duty imposed or a power vested in the director.
RCW 30B.24.060 — Washington Code / Title 30B / Chapter 24 / Section 060
RCW 30B.24.060: Compliance with the bank secrecy act—Management of third-party risk—Cybersecurity—Examination.
Status: in_force

(1) A state trust institution and its affiliate or third-party service provider, if applicable, shall comply with the federal financial recordkeeping and reporting of currency and foreign transactions act, 31 U.S.C. Sec. 5311 et seq., also known as the bank secrecy act, and with associated federal regulations including, without limitation, any requirements under 31 C.F.R. Part 103. (2) A state trust institution and its affiliate or third-party service provider, if applicable, shall maintain the federal standards for safeguarding customer information, required pursuant to Title V of the federal Gramm-Leach-Bliley act, P.L. 106-10, 113 Stat. 1338, as amended, and shall comply with applicable federal and state laws and rules related to cybersecurity, or written interpretive statement of the department to which the state trust institution, affiliate, or third-party service provider has been furnished notice. (3) A state trust company shall be subject to examination by the department for compliance with subsections (1) and (2) of this section. An affiliate of a state trust company may be subject to examination for compliance with subsections (1) and (2) of this section upon notice to the state trust company and to the applicable affiliate. A third-party service provider may be subject to direct examination in relation to compliance with subsections (1) and (2) of this section as may be required pursuant to RCW 30B.10.045 (3) and (4).
RCW 30A.04.210 — Washington Code / Title 30A / Chapter 04 / Section 210
RCW 30A.04.210: Real estate holdings.
Status: in_force

A bank may purchase, hold, and convey real estate for the following purposes: (1) Such as shall be necessary for the convenient transaction of its business, including with its banking offices other space in the same building to rent as a source of income: PROVIDED, That any bank shall not invest for such purposes more than the greater of: (a) Fifty percent of its capital, surplus, and undivided profits; or (b) one hundred twenty-five percent of its capital stock without the approval of the director. (2) Such as shall be purchased or conveyed to it in satisfaction, or on account of, debts previously contracted in the course of its business. (3) Such as it shall purchase at sale under judgments, decrees, liens, or mortgage foreclosures, from debts owed to it. (4) Such as a trust company receives in trust or acquires pursuant to the terms or authority of any trust. (5) Such as it may take title to or for the purpose of investing in real estate conditional sales contracts. (6) Such as shall be purchased, held, or conveyed in accordance with RCW 30A.04.212 granting banks the power to invest directly or indirectly in unimproved or improved real estate.
RCW 30B.12.020 — Washington Code / Title 30B / Chapter 12 / Section 020
RCW 30B.12.020: Board of directors, managers, or managing participants.
Status: in_force

(1) The board of a state trust company must consist of not fewer than five directors, managers, or managing participants, at least two of whom shall not be officers, managers, employees, or agents of the state trust company, or otherwise in control of the state trust company, either as a principal or in a representative capacity, as "control" is defined in RCW 30B.53.005 . Except for a limited liability trust company in which management has been retained by its participants, the principal executive officer of the state trust company is a member of the board. The principal executive officer acting in the capacity of board member is the board's presiding officer unless the board elects a different presiding officer to perform the duties as designated by the board. (2) Unless the director consents otherwise in writing, a person may not serve as director, manager, or managing participant of a state trust company if: (a) The state trust company incurs an unreimbursed loss attributable to a charged-off obligation of or holds a judgment against the person or an entity that was controlled by the person at the time of funding and at the time of default on the loan that gave rise to the judgment or charged-off obligation as determined by the definition of "control" set forth in RCW 30B.53.005 ; (b) The person has been convicted of a felony or a crime involving personal dishonesty; or (c) The person has violated a provision of Washington state law, relating to loan of trust funds and purchase or sale of trust property by the trustee, and the violation has not been corrected. (3) If a state trust company other than a limited liability trust company operated by managing participants does not elect directors or managers before the sixty-first day after the date of its regular annual meeting, the director may appoint a conservator under this title to operate the state trust company and elect directors or managers, as appropriate. If the conservator is unable to locate or elect persons willing and able to serve as directors or managers, the director may close the state trust company for liquidation. (4) A vacancy on the board that reduces the number of directors, managers, or managing participants to fewer than five must be filled not later than the thirtieth day after the date the vacancy occurs. A limited liability trust company with fewer than five managing participants must add one or more new participants or elect a board of managers of not fewer than five persons to resolve the vacancy. After thirty days after the date the vacancy occurs, the director may appoint a conservator under this title to operate the state trust company and elect a board of not fewer than five persons to resolve the vacancy. If the conservator is unable to locate or elect five persons willing and able to serve as directors or managers, the director may close the state trust company for liquidation. (5) Before each term to which a person is elected to serve as a director or manager of a state trust company, or annually for a person who is a managing participant, the person shall submit a declaration under penalty of perjury for filing in the minutes of the state trust company stating that the person, to the extent applicable: (a) Accepts the position and is not disqualified from serving in the position; (b) Will not violate or knowingly permit an officer, director, manager, managing participant, or employee of the state trust company to violate any law applicable to the conduct of business of the state trust company; and (c) Will diligently perform the duties of the position. (6) An advisory director or manager is not considered a director if the advisory director or manager: (a) Is not elected by the shareholders or participants of the state trust company; (b) Does not vote on matters before the board or a committee of the board and is not counted for purposes of determining a quorum of the board or committee; and (c) Provides solely general policy advice to the board. (7) Notwithstanding any other provision of this section to the contrary, a state trust company shall have directors, managers, or managing participants, and committees or subcommittees composed of such directors, managers, or managing participants, consistent with the requirements of RCW 30B.24.030 and in conformity with the contents of the state trust company's written statement of principles of trust management, pursuant to RCW 30B.24.040 , as adopted by the board and subject to approval of the department.
RCW 30A.04.020 — Washington Code / Title 30A / Chapter 04 / Section 020
RCW 30A.04.020: Use of words indicating bank or trust company—Penalty.
Status: in_force

(1) The name of every bank shall contain the word "bank" and the name of every trust company shall contain the word "trust," or the word "bank." Except as provided in RCW 33.08.030 or as otherwise authorized by this section or approved by the director, only a national bank, federal savings bank, a bank or trust company, savings bank under Title 32 RCW, bank holding company or financial holding company, a holding company authorized by this title or Title 32 RCW, or a foreign or alien corporation or other legal person authorized by this title to do so, shall: (a) Use as a part of his or her or its name or other business designation, as a prominent syllable within a word comprising all or a portion of its name or other business designation, or in any manner as if connected with his or her or its business or place of business any of the following words or the plural thereof, to wit: "bank," "banking," "banker," "bancorporation," "bancorp," or "trust," or any foreign language designations thereof, including, by way of example, "banco" or "banque." (b) Use any sign, logo, or marketing message, in any media, or use any letterhead, billhead, note, receipt, certificate, blank, form, or any written, printed, electronic or internet-based instrument or material representation whatsoever, directly or indirectly indicating that the business of such person is that of a bank or trust company. (2) A foreign corporation or other foreign domiciled legal person, whose name contains the words "bank," "banker," "banking," "bancorporation," "bancorp," or "trust," or the foreign language equivalent thereof, or whose articles of incorporation empower it to engage in banking or to engage in a trust business, may not engage in banking or in a trust business in this state unless the corporation or other legal person (a) is expressly authorized to do so under this title, under federal law, or by the director, and (b) complies with all applicable requirements of Washington state law regarding foreign corporations and other foreign legal persons. If an activity would not constitute "transacting business" within the meaning of RCW 23B.15.010 (1) or chapter 23B.18 RCW, then the activity shall not constitute banking or engaging in a trust business. Nothing in this subsection shall prevent operations by an alien bank in compliance with chapter 30A.42 RCW. (3) This section shall not prevent a lender approved by the United States secretary of housing and urban development for participation in any mortgage insurance program under the National Housing Act from using the words "mortgage banker" or "mortgage banking" in the conduct of its business, but only if both words are used together in either of the forms which appear in quotations in this sentence. (4) Any individual or legal person, or director, officer, or manager of such legal person, who knowingly violates any provision of this section shall be guilty of a gross misdemeanor.
RCW 30A.04.650 — Washington Code / Title 30A / Chapter 04 / Section 650
RCW 30A.04.650: Automated teller machines and night depositories security.
Status: in_force

Chapter 19.174 RCW applies to automated teller machines and night depositories regulated under this title.
RCW 30A.04.140 — Washington Code / Title 30A / Chapter 04 / Section 140
RCW 30A.04.140: Pledge of securities or assets prohibited—Exceptions.
Status: in_force

No bank shall pledge or hypothecate any of its securities or assets to any depositor, except that it may qualify as depositary for United States deposits, or other public funds, or funds held in trust and deposited by any public officer by virtue of his or her office, or as a depository for the money of estates under the statutes of the United States pertaining to bankruptcy or funds deposited by a trustee or receiver in bankruptcy appointed by any court of the United States or any referee thereof, or funds held by the United States or the state of Washington, or any officer thereof in trust, or for funds of corporations owned or controlled by the United States, and may give such security for such deposits as are required by law or by the officer making the same; and it may give security to its trust department for deposits with itself which represent trust funds invested in savings accounts or which represent fiduciary funds awaiting investment or distribution.
RCW 30B.04.160 — Washington Code / Title 30B / Chapter 04 / Section 160
RCW 30B.04.160: Choice of law clauses.
Status: in_force

When there is a choice of law clause contained in a governing instrument in which a state trust company is a party, the choice of law of any state agreed to by the parties to such instrument shall control the interpretation and enforcement of the trust or custodial agreement comprising such instrument.
RCW 30B.44B.170 — Washington Code / Title 30B / Chapter 44B / Section 170
RCW 30B.44B.170: Destruction of records after liquidation.
Status: in_force

(1) Where any records of the state trust company have been taken over and are in the possession of the director in connection with the involuntary liquidation of a state trust company, the director may, in his or her discretion at any time after an order of final liquidation, or equivalent, by the superior court, destroy any of such records which may appear to the director to be obsolete or unnecessary for future reference as part of the liquidation and as files of the department. (2) Such records are exempt from public disclosure, consistent with RCW 42.56.400 (6), 30A.04.075 , and 30B.04.060 .
RCW 30A.04.002 — Washington Code / Title 30A / Chapter 04 / Section 002
RCW 30A.04.002: Short title.
Status: in_force

This title may be known and cited as the Washington commercial bank act.
RCW 30B.12.100 — Washington Code / Title 30B / Chapter 12 / Section 100
RCW 30B.12.100: Audit—Fiduciary audit committee.
Status: in_force

(1) A state trust company shall have a fiduciary audit committee, which shall exercise fiduciary responsibilities, administer fiduciary powers, and report to the board of directors consistent with the requirements of this section, RCW 30B.24.030 , and in conformity with the contents of the state trust company's written statement of principles of trust management, pursuant to RCW 30B.24.040 . (2) At least once during each calendar year, a state trust company shall arrange for a suitable audit by internal or external auditors of all significant fiduciary activities, under the direction of its fiduciary audit committee, unless the state trust company adopts a continuous audit system in accordance with subsection (3) of this section. The state trust company shall note the results of the audit, including significant actions taken as a result of the audit, in the minutes of the board of directors. (3) In lieu of performing annual audits under subsection (2) of this section, a state trust company may adopt a continuous audit system under which the state trust company arranges for a discrete audit by internal or external auditors of each significant fiduciary activity on an activity-by-activity basis, under the direction of its fiduciary audit committee, at an interval commensurate with the nature and risk of that activity. Under such a system, certain fiduciary activities may receive audits at intervals greater or less than one year, as appropriate. A state trust company that adopts a continuous audit system pursuant to this subsection shall note the results of all discrete audits performed since the last audit report, including significant actions taken as a result of the audits, in the minutes of the board of directors at least once during each calendar year. (4) A state trust company's fiduciary audit committee may consist of the entire board of directors, or it may comprise either a committee of the bank's directors or an audit committee of an affiliate of the state trust company. However, in either case, the committee: (a) Must not include any officers of the state trust company or an affiliate who participate significantly in the administration of the state trust company's fiduciary activities; and (b) Must consist of a majority of members who are not also members of any committee to which the board of directors has delegated power to manage and control the fiduciary activities of the state trust company. (5) The requirements of subsections (1) through (4) of this section shall be separate from and in addition to any audits of the nonfiduciary operations of the state trust company, if any.
RCW 30B.44A.030 — Washington Code / Title 30B / Chapter 44A / Section 030
RCW 30B.44A.030: Examination and reports.
Status: in_force

While a state trust company is in process of voluntary liquidation under this chapter, it is subject to examination by the director and shall continue to furnish to the director such reports as required of a state trust company.
RCW 30B.38.080 — Washington Code / Title 30B / Chapter 38 / Section 080
RCW 30B.38.080: Notice of subsequent merger, closing, etc.
Status: in_force

Each out-of-state trust institution that maintains an office in Washington state or otherwise conducts trust business in Washington state pursuant to this chapter, or the home state regulator of such trust institution, shall give at least thirty days' prior written notice, or in the case of an emergency transaction, such shorter notice as is consistent with applicable state or federal law, to the director of: (1) Any merger, consolidation, or other transaction that would cause a change of control with respect to such out-of-state trust institution or any bank holding company that controls such trust institution, as determined by the definition of "control" set forth in RCW 30B.53.005 ; (2) Any transfer of all or substantially all of the trust accounts or trust assets of the out-of-state trust institution to another person; or (3) The closing or disposition of any office in Washington state.
RCW 30A.98.050 — Washington Code / Title 30A / Chapter 98 / Section 050
RCW 30A.98.050: Repeals and saving.
Status: in_force

See 1955 c 33 s 30.98.050 .
RCW 30A.42.300 — Washington Code / Title 30A / Chapter 42 / Section 300
RCW 30A.42.300: Suspension or revocation of certificate to operate—Grounds.
Status: in_force

If the director finds that any alien bank to which he or she has issued a certificate to operate an office or bureau in this state pursuant to this chapter has violated any law or rule, or has conducted its affairs in an unauthorized manner, or has been unresponsive to the director's lawful orders or directions, or is in an unsound or unsafe condition, or cannot with safety and expediency continue business, or if he or she finds that the alien bank's country is unjustifiably refusing to allow banks qualified to do business in and having their principal office within this state to operate offices or similar operations in such country, the director may suspend or revoke the certificate of such alien bank and notify it of such suspension or revocation.
RCW 30A.44.010 — Washington Code / Title 30A / Chapter 44 / Section 010
RCW 30A.44.010: Notice to correct unsafe conditions—Possession may be taken under specified circumstances.
Status: in_force

(1) Under the circumstances set forth in subsection (2) of this section, the director may give to a bank a notice to correct an unsafe condition of the bank; and if such bank fails to comply with the terms of such notice within thirty days from the date of its issuance or within such further time as the director may allow, then the director may take possession of such bank as in the case of insolvency. (2) The director is authorized to give notice and take possession of a bank, as described in subsection (1) of this section, under the following circumstances: (a) The obligations to its creditors, depositors, members, trust beneficiaries, if applicable, and others exceed its assets; (b) It has willfully violated a supervisory directive, cease and desist order, or other authorized directive or order of the director; (c) It has concealed its books, papers, records, or assets, or refused to submit its books, records, or affairs to any examiner of the department or the federal deposit insurance corporation; (d) It is likely to be unable to pay its obligations or meet its depositors' demands in the normal course of business; (e) It ceases to have deposit insurance acceptable to the director; (f) It fails to submit a capital restoration plan acceptable to the department within a time previously called for or materially fails to implement a capital restoration plan that was previously submitted and accepted by the department; or (g) It is critically undercapitalized or otherwise has substantially insufficient capital.
RCW 30A.42.260 — Washington Code / Title 30A / Chapter 42 / Section 260
RCW 30A.42.260: Reports.
Status: in_force

(1) An office of an alien bank shall file the following reports with the director within such times and in such form as the director shall prescribe by rule: (a) A statement of condition of the office; (b) A capital position report of the office; (c) A consolidated statement of condition of an alien bank. (2) An office of an alien bank shall publish such reports as the director by rule may prescribe. (3) An alien bank operating a bureau in this state shall file a copy of the alien bank's annual financial report with the director as soon as possible following the end of each fiscal year and shall file such other material as the director may prescribe by rule.
RCW 30B.08.050 — Washington Code / Title 30B / Chapter 08 / Section 050
RCW 30B.08.050: Required capital.
Status: in_force

(1) The director shall at time of application, to organize a state trust company, determine the minimum required initial capitalization of a proposed state trust company in the manner provided for in *RCW 30B.08.030 (3)(b)(ii) and as further provided in this section. (2) The director may consider the following safety and soundness factors when determining minimum required capital, including, but not limited to: (a) The nature and type of business conducted; (b) The nature and degree of liquidity in assets held in a corporate capacity; (c) The amount of fiduciary assets under management; (d) The type of fiduciary assets held and the depository of such assets; (e) The complexity of fiduciary duties and degree of discretion undertaken; (f) The competence and experience of management; (g) The extent and adequacy of internal controls; (h) The presence or absence of annual unqualified audits by an independent certified public accountant; (i) The reasonableness of business plans for retaining or acquiring additional capital; (j) The existence and adequacy of insurance obtained or held by the trust company for the purpose of protecting its clients, trust beneficiaries, and settlors; (k) The history of operating losses, if any; (l) The history of loss, if any, in relation to fiduciary or custodial accounts; and (m) The amount of support from the state trust company's parent or affiliate. (3) The effective date of a written finding requiring an existing state trust company to increase its capital must be stated in the written finding as on or after the thirty-first day after the date the written finding is mailed or delivered. Unless the state trust company requests a hearing before the director before the effective date of the written finding, the order becomes effective and is final and nonappealable. This subsection does not prohibit an application to reduce capital requirements of a proposed or an existing state trust company. (4) Subject to subsection (2) of this section, a state trust company to which the director issues a certificate of authority shall at all times maintain capital in at least the amount required under subsection (1) of this section, plus any additional amount or less any reduction the director directs under subsection (2) of this section. (5) Notwithstanding any provision of this section, the director may establish by rule safety and soundness standards for minimum required capital, additional required capital, and reduction of capital, for a proposed or existing state trust company.
RCW 30B.04.020 — Washington Code / Title 30B / Chapter 04 / Section 020
RCW 30B.04.020: Rules—Administration and interpretation of title.
Status: in_force

(1) The director has the power to adopt rules, as he or she determines necessary and appropriate, to implement the purposes and provisions of this title in accordance with the administrative procedure act, chapter 34.05 RCW. (2) The director has the power, and broad administrative discretion, to administer and interpret the provisions of this title to facilitate the delivery of trust business and fiduciary services to the citizens of the state of Washington by trust businesses and other persons.
RCW 30A.04.130 — Washington Code / Title 30A / Chapter 04 / Section 130
RCW 30A.04.130: Defaulted debts, judgments to be charged off—Valuation of assets.
Status: in_force

Based on examinations directed pursuant to RCW 30A.04.060 or other appropriate information, all assets or portion thereof that the director may have required a bank to charge off shall be charged off. No bank shall enter or at any time carry on its books any of its assets or liabilities at a valuation contrary to generally accepted accounting principles.
RCW 30A.42.320 — Washington Code / Title 30A / Chapter 42 / Section 320
RCW 30A.42.320: Rules.
Status: in_force

The director shall have power to adopt uniform rules to govern examination and reports of alien bank offices and bureaus doing business in this state pursuant to this chapter and the form in which they shall report their assets, liabilities, and reserves, charge off bad debts and otherwise keep their records and accounts and otherwise to govern the administration of this chapter.
RCW 30A.08.020 — Washington Code / Title 30A / Chapter 08 / Section 020
RCW 30A.08.020: Notice of intention to organize—Proposed articles of incorporation—Contents.
Status: in_force

Persons desiring to incorporate a bank shall file with the director a notice of their intention to organize a bank in such form and containing such information as the director shall prescribe by rule, together with proposed articles of incorporation, which shall be submitted for examination to the director at his or her office. The proposed articles of incorporation shall state: (1) The name of such bank. (2) The city, village or locality and county where the head office of such corporation is to be located. (3) The nature of its business. (4) The amount of its capital stock, which shall be divided into shares of a par or no par value as may be provided in the articles of incorporation. (5) The names and places of residence and mailing addresses of the persons who as directors are to manage the corporation until the first annual meeting of its stockholders. (6) If there is to be preferred or special classes of stock, a statement of preferences, voting rights, if any, limitations and relative rights in respect of the shares of each class; or a statement that the shares of each class shall have the attributes as shall be determined by the bank's board of directors from time to time with the approval of the director. (7) Any provision granting the shareholders the preemptive right to acquire additional shares of the bank and any provision granting shareholders the right to cumulate their votes. (8) Any provision, not inconsistent with law, which the incorporators elect to set forth in the articles of incorporation for the regulation of the affairs of the corporation, including any provision restricting the transfer of shares, any provision which under this title is required or permitted to be set forth in the bylaws, and any provision permitted by RCW 23B.17.030 . (9) Any provision the incorporators elect to so set forth, not inconsistent with law or the purposes for which the bank is organized, or any provision limiting any of the powers granted in this title. It shall not be necessary to set forth in the articles of incorporation any of the corporate powers granted in this title. The articles of incorporation shall be signed by all of the incorporators.
RCW 30B.12.120 — Washington Code / Title 30B / Chapter 12 / Section 120
RCW 30B.12.120: Directors, committees—Actions authorized without meetings—Written consent.
Status: in_force

(1) Unless otherwise provided by the articles of incorporation or bylaws, any action required by this title to be taken at a meeting of the directors of a state trust company, or any action which may be taken at any meeting of the directors or of a committee, may be taken without a meeting if consented to in writing or by electronic transmission, setting forth the action so taken, shall be signed by all of the directors, or all of the members of the committee, as the case may be. Such consent has the same effect as a unanimous vote. (2) For purposes of this section, the term "electronic transmission" means any form of communication not involving the transmission of paper that creates a record that may be retained, retrieved, and reviewed by a recipient thereof and that may be directly reproduced in paper form by such recipient through an automated process.
RCW 30A.04.575 — Washington Code / Title 30A / Chapter 04 / Section 575
RCW 30A.04.575: Public hearing prior to approval of reorganization—Request.
Status: in_force

Prior to the approval of the reorganization, the director, upon request of the board of directors of the bank, or not less than ten percent of its shareholders, shall hold a public hearing at which bank shareholders and other interested parties may appear. Notice of the public hearing shall be sent to each shareholder by prepaid first-class mail. The approval of the reorganization by the director shall be conditioned on a finding that the terms of the reorganization are fair to the shareholders and other interested parties.
RCW 30B.44B.060 — Washington Code / Title 30B / Chapter 44B / Section 060
RCW 30B.44B.060: Notice to creditors—Claims.
Status: in_force

(1) The director shall publish on the department's public website and also once a week for four consecutive weeks in a newspaper of general circulation, which the director shall select, a notice requiring all persons having claims against the dissolved state trust company to make proof of claim to the department as specified in the notice not later than ninety days from the date of the first publication of such notice. (2) The director shall mail similar notices to all persons whose names appeared as creditors upon the books of the state trust company as of the date and time of the director taking possession pursuant to RCW 30B.44B.005 or 30B.44B.010 . (3) The director may approve or reject any claims, but shall serve notice of rejection upon the claimant by mail or personally. A declaration of service of such notice, signed under penalty of perjury, shall be deemed a rebuttable presumption that notice has been given pursuant to this section. (4) No action shall be brought on any claim after ninety days from the date of service of notice of rejection. (5) After the expiration of the time fixed in the notice, the director shall have no power to accept any claim. (6) Any claim that has not been filed with the department as required by this section is barred as a matter of law.
RCW 30A.49.120 — Washington Code / Title 30A / Chapter 49 / Section 120
RCW 30A.49.120: Resulting state bank—Valuation of certain assets limited.
Status: in_force

Without approval by the director no asset shall be carried on the books of the resulting state bank at a valuation higher than that on the books of the merging or converting state or national bank at the time of its last examination by a state examiner or national bank examiner before the effective date of the merger or conversion.
RCW 30A.04.125 — Washington Code / Title 30A / Chapter 04 / Section 125
RCW 30A.04.125: Investment in corporations—Authorized businesses.
Status: in_force

Unless otherwise prohibited by law, any state bank may invest in the capital stock of corporations organized to conduct the following businesses: (1) A safe deposit business: PROVIDED, That the amount of investment does not exceed fifteen percent of its capital stock and surplus, without the approval of the director; (2) A corporation holding the premises of the bank or its branches: PROVIDED, That without the approval of the director, the investment of such stock shall not exceed, together with all loans made to the corporation by the bank, a sum equal to the amount permitted to be invested in the premises by RCW 30A.04.210 ; (3) Stock in a small business investment company licensed and regulated by the United States as authorized by the small business act, Public Law 85-536, 72 Statutes at Large 384, in an amount not to exceed five percent of its capital and surplus without the approval of the director; (4) Capital stock of a banking service corporation or corporations. The total amount that a bank may invest in the shares of such corporation may not exceed ten percent of its capital and surplus without the approval of the director. A bank service corporation may not engage in any activity other than those permitted by the bank service corporation act, 12 U.S.C. Sec. 1861, et seq., as subsequently amended and in effect on December 31, 1993. The performance of any service, and any records maintained by any such corporation for a bank, shall be subject to regulation and examination by the director and appropriate federal agencies to the same extent as if the services or records were being performed or maintained by the bank on its own premises; (5) Capital stock of a federal reserve bank to the extent required by such federal reserve bank; (6) A corporation engaging in business activities that have been determined by the board of governors of the federal reserve system or by the United States congress to be closely related to the business of banking, as of December 31, 1993; (7) A governmentally sponsored corporation engaged in secondary marketing of loans and the stock of which must be owned in order to participate in its marketing activities; (8) A corporation in which all of the voting stock is owned by the bank and that engages exclusively in nondeposit-taking activities that are authorized to be engaged in by the bank or trust company; (9) A bank may purchase for its own account shares of stock of a bank or a holding company that owns or controls a bank if the stock of the bank or company is owned exclusively, except to the extent directly qualifying shares are required by law, by depository institutions and the bank or company and all subsidiaries thereof are engaged exclusively in providing services for other depository institutions and their officers, directors, and employees. In no event may the total amount of such stock held by a bank in any bank or bank holding company exceed at any time ten percent of its capital stock and paid-in and unimpaired surplus, and in no event may the purchase of such stock result in a bank acquiring more than twenty-five percent of any class of voting securities of such bank or company. Such a bank or bank holding company shall be called a "banker's bank."(1) No licensee may make a loan using any method of calculating interest other than the simple interest method; except that the add-on method of calculating interest may be used for a loan not secured by real property or personal property used as a residence when the repayment period does not exceed three years and fifteen days after the loan origination date. (2) No licensee may make a loan using the add-on method to calculate interest that does not provide for a refund to the borrower or a credit to the borrower's account of any unearned interest when the loan is repaid before the original maturity date in full by cash, by a new loan, by refinancing, or otherwise before the final due date. The refund must be calculated using the actuarial method, unless a sum equal to two or more installments has been prepaid and the account is not in arrears and continues to be paid ahead, in which case the interest on the account must be recalculated by the simple interest method with the refund of unearned interest made as if the loan had been made using the simple interest method. When computing an actuarial refund, the lender may round the annual rate used to the nearest quarter of one percent. In computing a required refund of unearned interest, a prepayment made on or before the fifteenth day after the scheduled payment date is deemed to have been made on the payment date preceding the prepayment. In the case of prepayment before the first installment due date, the company may retain an amount not to exceed one-thirtieth of the first month's interest charge for each day between the origination date of the loan and the actual date of prepayment. (3) No licensee may provide credit life or disability insurance in an amount greater than that required to pay off the total balance owing on the date of the borrower's death net of refunds in the case of credit life insurance, or all minimum payments that become due on the loan during the covered period of disability in the case of credit disability insurance. The lender may not require any such insurance. (4) Except in the case of loans by mail, where the borrower has sufficient time to review papers before returning them, no licensee may prepare loan papers in advance of the loan closing without having reviewed with the borrower the terms and conditions of the loan to include the type and amount of insurance, if any, requested by the borrower.
RCW 30A.42.190 — Washington Code / Title 30A / Chapter 42 / Section 190
RCW 30A.42.190: Bonding requirements for officers and employees.
Status: in_force

All officers and employees of an office shall be subject to the same bonding requirements as are officers and employees of banks incorporated under the laws of this state.
RCW 30B.04.140 — Washington Code / Title 30B / Chapter 04 / Section 140
RCW 30B.04.140: Legal services, advertising of—Penalty.
Status: in_force

RCW 30A.04.260 applies to this title.
RCW 30A.04.030 — Washington Code / Title 30A / Chapter 04 / Section 030
RCW 30A.04.030: Rules—Administration and interpretation of title.
Status: in_force

(1) The director shall have power to adopt uniform rules in accordance with the administrative procedure act, chapter 34.05 RCW, to govern examinations and reports of banks, trust companies, and holding companies and the form in which they shall report their assets, liabilities, and reserves, charge off bad debts and otherwise keep their records and accounts, and otherwise to govern the administration of this title. (2) The director shall have the power, and broad administrative discretion, to administer and interpret the provisions of this title to facilitate the delivery of financial services to the citizens of the state of Washington by the banks, trust companies, and holding companies subject to this title.
RCW 30A.42.140 — Washington Code / Title 30A / Chapter 42 / Section 140
RCW 30A.42.140: Investigations—Examinations.
Status: in_force

The director, without previous notice, shall visit the office of an alien bank doing business in this state pursuant to this chapter at least once every eighteen months, and more often if necessary, for the purpose of making a full investigation into the condition of such office, and for that purpose they are hereby empowered to administer oaths and to examine under oath any director or member of its governing body, officer, employee, or agent of such alien bank or office. The director shall make such other full or partial examination as he or she deems necessary. The director shall collect, from each alien bank for each examination of the conditions of its office in this state, the estimated actual cost of such examination.
RCW 30A.42.310 — Washington Code / Title 30A / Chapter 42 / Section 310
RCW 30A.42.310: Change of location.
Status: in_force

An alien bank licensed to maintain an office or bureau in this state pursuant to this chapter may apply to the director for leave to change the location of its office or bureau. Such applications shall be accompanied by an investigation fee as established in accordance with RCW 30A.42.330 . Leave for a change of location shall be granted if the director finds that the proposed new location offers reasonable promise of adequate support for the office.
RCW 30A.60.030 — Washington Code / Title 30A / Chapter 60 / Section 030
RCW 30A.60.030: Adoption of rules.
Status: in_force

The director shall adopt all rules necessary to implement sections 2 through 6, chapter 329, Laws of 1985 by January 1, 1986.
RCW 30B.08.020 — Washington Code / Title 30B / Chapter 08 / Section 020
RCW 30B.08.020: Limited liability trust company—Organization or conversion—Approval of director—Conditions—Application of chapter 25.15 RCW.
Status: in_force

(1) If the conditions of this section are met, an applicant to become a state trust company may organize as a limited liability trust company pursuant to this chapter. An applicant to become a state trust company, which is already organized as a limited liability company pursuant to chapter 25.15 RCW, may reorganize as and convert to a limited liability trust company under this title and be granted a certificate of authority pursuant to this chapter to operate as a state trust company if all conditions of this title are met. (2)(a) Before a state trust company organized as a corporation may reorganize and convert to a limited liability trust company, the state trust company must obtain approval of the director. (b)(i) To obtain approval under this subsection from the director, the state trust company must file a request for approval with the director at least sixty days before the day on which the state trust company becomes a limited liability trust company. (ii) If the director does not disapprove the request for approval within sixty days from the day on which the director receives the request, the request is considered approved. (iii) When taking action on a request for approval filed pursuant to this subsection, the director may: (A) Approve the request; (B) Approve the request subject to terms and conditions the director considers necessary; or (C) Disapprove the request. (3) To approve a request, the director must find that: (a) The state trust company will operate in a safe and sound manner under a limited liability trust company structure; and (b) The state trust company as a limited liability trust company has the characteristics set forth in subsections (4) and (5) of this section. (4) Notwithstanding any provision to the contrary contained in chapter 25.15 RCW, a state trust company organized as or reorganized and converted to a limited liability trust company must be perpetual. (5)(a) All rights, privileges, powers, duties, and obligations of a state trust company, which is organized as a limited liability trust company, and its members and managers shall be consistent with chapter 25.15 RCW, except the following: (i) Permitting automatic dissolution or suspension of a limited liability company as set forth in RCW 25.15.265 (1), pursuant to a statement of limited duration in a certificate of formation; (ii) Permitting automatic dissolution or suspension of a limited liability company, pursuant to the limited liability company agreement, as set forth in RCW 25.15.265 (2); (iii) Permitting dissolution of the limited liability company agreement based upon agreement of all the members, as set forth in RCW 25.15.265 (3); (iv) Permitting dissociation of all the members of the limited liability company, as set forth in RCW 25.15.265 (4); and (v) Permitting automatic dissolution or suspension of a limited liability company, pursuant to operation of law, as otherwise set forth in chapter 25.15 RCW. (b) Notwithstanding (a) of this subsection: (i) For purposes of transferring a member's interests in the state trust company, a member's interest is treated like a share of stock in a corporation; and (ii) If a member's interest is transferred voluntarily or involuntarily to another person, the person who receives the member's interest obtains the member's entire rights associated with the member's interest, including all economic rights and all voting rights. (6)(a) Notwithstanding any provision of chapter 25.15 RCW or this section to the contrary, all voting members remain liable and responsible as fiduciaries of the limited liability trust company, regardless of resignation, dissociation, or disqualification, to the same extent that directors of a state trust company organized as a corporation would be or remain liable or responsible to the department. (b) If death, incapacity, or disqualification of all members of the limited liability trust company would result in a complete dissociation of all members, then the state trust company is deemed nonetheless to remain in existence for purposes of the department having standing under chapter 30B.44B RCW to exercise the powers and authorities of a liquidating agent for the state trust company.
RCW 30A.04.214 — Washington Code / Title 30A / Chapter 04 / Section 214
RCW 30A.04.214: Qualifying community investments.
Status: in_force

(1) An amount equal to ten percent of the aggregate amount invested in real estate in accordance with RCW 30A.04.212 shall be placed in qualifying community investments as defined in subsection (2) of this section. (2) "Qualifying community investment" means any direct or indirect investment or extension of credit made by a bank in projects or programs designed to develop or redevelop areas in which persons with low or moderate incomes reside, designed to meet the credit needs of such low or moderate-income areas, or that primarily benefits low and moderate-income residents of such areas. The term includes, but is not limited to, any of the following within the state of Washington: (a) Investments in governmentally insured, guaranteed, subsidized, or otherwise sponsored programs for housing, small farms, or businesses that address the needs of the low and moderate-income areas. (b) Investments in residential mortgage loans, home improvements loans, housing rehabilitation loans, and small business or small farm loans originated in low and moderate-income areas, or the purchase of such loans originated in low and moderate-income areas. (c) Investments for the preservation or revitalization of urban or rural communities in low and moderate-income areas. The term does not include personal installment loans, loans made to purchase, or loans secured by an automobile. (3) A qualifying community investment made by an entity that wholly owns a bank, is wholly owned by a bank, or is wholly owned by an entity that wholly owns the bank is deemed to have been made by a bank to satisfy the requirements of subsection (1) of this section.
RCW 30A.04.050 — Washington Code / Title 30A / Chapter 04 / Section 050
RCW 30A.04.050: Duty to comply—Violations—Penalty.
Status: in_force

(1) Each bank and its directors, officers, employees, and agents, shall comply with: (a) This title and Title 30B RCW as applicable to each of them; (b) The rules adopted by the department with respect to banks and trust companies; (c) Any lawful direction or order of the director; (d) Any lawful supervisory agreement with the director; and (e) The applicable statutes, rules, and regulations administered by the board of governors of the federal reserve system, the federal deposit insurance corporation, or their successor agencies, with respect to banks or trust companies. (2) Each holding company, and its directors, officers, employees, and agents, shall comply with: (a) The provisions of this title that are applicable to each of them; (b) The rules adopted by the department with respect to holding companies; (c) Any lawful direction or order of the director; (d) Any lawful supervisory agreement with the director; and (e) The applicable statutes, rules, and regulations administered by the board of governors of the federal reserve system, or its successor agency, with respect to holding companies, the violation of which would result in an unsafe and unsound practice or material violation of law with respect to the subsidiary bank of the holding company. (3) The violation of any supervisory agreement, direction, order, statute, rule, or regulation referenced in this section, in addition to any other penalty provided in this title, shall, at the option of the director, subject the offender to a penalty of up to ten thousand dollars for each offense, payable upon issuance of any order or directive of the director, which may be recovered by the attorney general in a civil action in the name of the department.
RCW 30A.60.901 — Washington Code / Title 30A / Chapter 60 / Section 901
RCW 30A.60.901: Effective date—1985 c 329.
Status: in_force

This act shall take effect on January 1, 1986, but the director may immediately take such steps as are necessary to ensure that this act is implemented on its effective date.
RCW 30B.04.090 — Washington Code / Title 30B / Chapter 04 / Section 090
RCW 30B.04.090: Investment of corporate funds—Securities.
Status: in_force

A state trust company may invest its nonfiduciary corporate funds in investments other than real estate, including securities, that are permissible for state banks under Title 30A RCW, and as may be made applicable for state trust companies by rule of the director.
RCW 30A.42.100 — Washington Code / Title 30A / Chapter 42 / Section 100
RCW 30A.42.100: Notice of approval—Filing—Time period for commencing business.
Status: in_force

If the director approves the application, he or she shall notify the alien bank of his or her approval and shall file certified copies of its charter, certificate or other authorization to do business with the secretary of state. Upon such filing, the director shall issue a certificate of authority stating that the alien bank is authorized to conduct business through a branch or agency in this state at the place designated in accordance with this chapter. Each such certificate shall be conspicuously displayed at all times in the place of business specified therein. The office of the alien bank must commence business within six months after the issuance of the director's certificate: PROVIDED, That the director for good cause shown may extend such period for an additional time not to exceed three months.
RCW 30A.04.375 — Washington Code / Title 30A / Chapter 04 / Section 375
RCW 30A.04.375: Investment in stock, participation certificates, and other evidences of participation.
Status: in_force

Any bank may invest in the stock or participation certificates of production credit associations, federal intermediate credit banks and the stock or other evidences of participation of federal land banks in amounts consistent with safe and sound practice in conducting the business of the bank.
RCW 30B.38.060 — Washington Code / Title 30B / Chapter 38 / Section 060
RCW 30B.38.060: Examinations of out-of-state trust institutions—Periodic reports—Cooperative agreements—Assessment of fees.
Status: in_force

(1) To the extent consistent with subsections (3), (4), and (5) of this section, the director may make such examinations and investigations of an out-of-state trust institution engaged in trust business in this state as the director may deem necessary to determine whether the out-of-state trust institution is being operated and maintained in a safe and sound manner in a manner affecting this state. Unless otherwise prescribed by rule, the provisions of Title 30A RCW applicable to examination or investigation of banks shall apply to such examinations or investigations of out-of-state trust institutions. (2) The director may require periodic reports regarding any out-of-state trust institution engaged in trust business in this state. The required reports shall be provided by such out-of-state trust institution or by the home state regulator. Any reporting requirements prescribed by the director under this subsection shall be (a) consistent with the reporting requirements applicable to state trust companies and (b) appropriate for the purpose of enabling the director to carry out his or her responsibilities under this chapter. (3) The director may enter into cooperative, coordinating, and information-sharing agreements with any other trust institution supervisory agency with respect to the periodic examination or other supervision of an out-of-state trust institution engaging in trust business in this state, and the director may accept the report of examination and report of investigation of such agency in lieu of conducting his or her own examination or investigation. (4) The director may enter into contracts with any trust institution supervisory agency that has concurrent jurisdiction over an out-of-state trust institution engaged in trust business in this state to engage the services of such agency's examiners at a reasonable rate of compensation, or to provide the services of the director's examiners to such agency at a reasonable rate of compensation. Any such contract shall be deemed a sole source contract to the extent permitted under Washington state law. (5) The director may enter into joint examinations or joint enforcement actions with other trust institutions supervisory agencies having concurrent jurisdiction over any out-of-state trust institution engaged in trust business in this state or by a state trust company doing business in any host state. (6) Notwithstanding any other provision of this section, the director may at any time take enforcement action independently if the director deems such actions to be necessary or appropriate to carry out his or her responsibilities under this title or to ensure compliance with the laws of this state. However, in the case of an out-of-state trust institution, the director shall recognize the exclusive authority of the home state regulator over corporate governance matters and the primary responsibility of the home state regulator with respect to safety and soundness matters. (7) An out-of-state trust institution that engages in trust business in this state and which is subject to examination by the director under any cooperative agreement between the director and the home state of the out-of-state trust institution, may be subject to supervisory, examination, and other fees, under authority of such cooperative agreement, RCW 30A.04.070 , and as may be specified by rule.
RCW 30A.36.020 — Washington Code / Title 30A / Chapter 36 / Section 020
RCW 30A.36.020: Issuance and sale—Status—Conversion rights.
Status: in_force

With the approval of the director, any bank or mutual savings bank may at any time, through action of its board of directors or trustees, issue and sell its capital notes or debentures. Such capital notes or debentures shall be subordinate to the claims of depositors and other creditors. The holders of capital notes or debentures issued by a bank shall have such conversion rights as may be provided in the articles of incorporation with the approval of the director.
RCW 30A.42.160 — Washington Code / Title 30A / Chapter 42 / Section 160
RCW 30A.42.160: Powers as to real estate.
Status: in_force

An alien bank may purchase, hold and convey real estate for the following purposes and no other: (1) Such as shall be necessary for the convenient transaction of its business, including with its banking offices other apartments in the same building to rent as a source of income: PROVIDED, That not to exceed thirty percent of its capital and surplus and undivided profits may be so invested without the approval of the director. (2) Such as shall be purchased or conveyed to it in satisfaction, or on account of, debts previously contracted in the course of business. (3) Such as it shall purchase at sale under judgments, decrees, liens or mortgage foreclosures, against securities held by it. (4) Such as it may take title to or for the purpose of investing in real estate conditional sales contracts. (5) Such as shall be convenient for the residences of its employees. No real estate except that specified in subsections (1) and (5) of this section may be carried as an asset on the corporation's books for a longer period than five years from the date title is acquired thereto, unless an extension of time be granted by the director.
RCW 30A.08.050 — Washington Code / Title 30A / Chapter 08 / Section 050
RCW 30A.08.050: Approved articles to be filed and recorded—Organization complete.
Status: in_force

In case of approval the director shall forthwith give notice thereof to the proposed incorporators and file one of the triplicate articles of incorporation in his or her own office, and shall transmit another triplicate to the secretary of state, and the last to the incorporators. Upon receipt from the proposed incorporators of the same fees as are required for filing and recording other articles of incorporation the secretary of state shall file such articles and record the same. Upon the filing of articles of incorporation approved as aforesaid by the director, with the secretary of state, all persons named therein and their successors shall become and be a corporation, which shall have the powers and be subject to the duties and obligations prescribed by this title, and whose existence shall continue from the date of the filing of such articles until terminated pursuant to law; but such corporation shall not transact any business except as is necessarily preliminary to its organization until it has received a certificate of authority as provided herein.
RCW 30A.04.395 — Washington Code / Title 30A / Chapter 04 / Section 395
RCW 30A.04.395: Continuing authority for investments.
Status: in_force

Any investment by a bank other than a loan, if legal and authorized when made, may continue to be held by the bank notwithstanding a change in circumstances or change in the law.
RCW 30B.64.005 — Washington Code / Title 30B / Chapter 64 / Section 005
RCW 30B.64.005: Definitions.
Status: in_force

Unless the context clearly requires otherwise, the definitions in this section apply to the provisions of this chapter. (1) "Change of control" means to transfer or sell control of a private trust or private trust company to a person or persons other than family members. (2) "Common ancestor" has the same meaning as an individual referred to as a common ancestor in the internal revenue code, 26 U.S.C. Sec. 1361(c)(1)(B)(ii), and excludes an individual who, on an applicable date, is more than six generations removed from the youngest generation of shareholders or holders of beneficial interests in a private trust company. (3) "Family member" means an individual who is a common ancestor, a lineal descendant of such common ancestor, or a spouse or former spouse of such common ancestor or such lineal descendant. (4) "Private trust" means a trust created and maintained pursuant to the Washington trust act, chapter 11.98 RCW, or the laws of another state or foreign jurisdiction, in which: (a) The trustee is a person who does not hold itself out to the general public as being engaged in trust business; and (b) Neither the trust nor the trustee, in the capacity of trustee for the private trust, transacts business with the general public. (5) "Private trust company" means a company acting as a private trust. (6) "Transact business with the general public" means any sales, solicitations, arrangements, agreements, or transactions to provide trust or other business services, whether or not for a fee, commission, or any other type of remuneration, with any client that is not a family member or a sole proprietorship, partnership, joint venture, association, trust, estate, business trust, or other company that is not one hundred percent owned or controlled by one or more family members.
RCW 30B.10.060 — Washington Code / Title 30B / Chapter 10 / Section 060
RCW 30B.10.060: Governing administrative law and procedure.
Status: in_force

The powers and duties of the director and required practices and procedures of the department with respect to all enforcement authority conferred by this title shall be subject to the Washington administrative procedure act, chapter 34.05 RCW, consistent with the administrative procedures applicable to this chapter.
RCW 30B.10.210 — Washington Code / Title 30B / Chapter 10 / Section 210
RCW 30B.10.210: Authority of director to seek removal by the board of a state trust company.
Status: in_force

(1) In addition to any other remedy set forth in this chapter, the director may notify, in writing, the board of directors of any state trust company that the director has information that any member of the board of directors, officer, manager, employee, or agent of the state trust company or affiliate of the state trust company is dishonest, reckless, or incompetent, or is failing to perform any duty required of the state trust company or such affiliate. (2) The board shall then meet to consider such matter as soon as reasonably feasible, but no later than thirty calendar days of the director's notice. (3) The director shall have notice of the time and place of such meeting and an opportunity to appear at such meeting and address the board of directors concerning the director's information. (4) If the board finds the director's information to be well-founded, and the affected member of the board of directors, officer, employee, or agent of the state trust company or such affiliate is working under an employment contract or independent contractor agreement that prohibits termination without cause, the board shall notify such member of the board of directors, officer, employee, or agent of the board's intent to remove him or her from the position, or to otherwise instruct such affiliate to do so, as applicable. Such notice shall be in writing and include: (a) Notice of the allegations; (b) Specific facts supporting the allegations; and (c) A time and place at which such member of the board of directors, officer, employee, or agent will have an opportunity to be heard before a final action is taken by the board. (5) Pursuant to subsection (4) of this section, the board shall set the time and place of the meeting no sooner than ten business days after such member of the board of directors, officer, employee, or agent receives notice of the board's intent to remove or terminate the contract. (6) If the board finds the director's information to be well-founded, and the affected member of the board of directors, officer, manager, employee, or agent may be terminated without cause, such director, officer, manager, employee, or agent may be removed by the state trust company or such affiliate, or their contract may be terminated, at the option of the board. (7) If the board does not remove such director, officer, employee, or agent, or if the board fails to meet, consider, or act upon the director's information within twenty days after receiving the same, then the director may within twenty days after, or earlier in the case of the necessity of an emergency order under RCW 30B.10.070 , seek removal of such person by complying with the applicable provisions of this chapter. (8) This section shall not be deemed to be an exclusive remedy of the department. The department may exercise any other remedies available to it under this chapter.
RCW 30B.10.140 — Washington Code / Title 30B / Chapter 10 / Section 140
RCW 30B.10.140: Hearing—Who may conduct—Authority.
Status: in_force

(1) A hearing pursuant to a notice of charges under this chapter must be conducted in accordance with chapter 34.05 RCW, except to the extent otherwise provided in this chapter. (2) Such hearing may be held at a place designated by the director and, at the option of the director, may be conducted by a delegated presiding officer whom the director appoints without referral to the office of administrative hearings. (3) The hearing shall be conducted in accordance with this chapter, chapter 34.05 RCW, and chapters 10-08 and 208-08 WAC. (4) If the department elects to conduct a hearing as permitted by subsection (2) of this section, the director must appoint a presiding officer from outside the division of banks, who may be either an employee from another division, an independent contractor, or an administrative law judge of the office of administrative hearings. (5) Such hearing shall be private unless the director determines that a public hearing is necessary to protect the public interest upon good cause shown in a motion by the respondent, if any, to make the hearing public. (6) The director may elect to either retain authority to issue a final order or may delegate such authority to the presiding officer appointed pursuant to subsection (2) of this section.
RCW 30A.20.005 — Washington Code / Title 30A / Chapter 20 / Section 005
RCW 30A.20.005: Deposits by individuals governed by chapter 30A.22 RCW.
Status: in_force

Deposits made by individuals in a national bank, state bank[,] or other banking institution subject to the supervision of the director are governed by chapter 30A.22 RCW.
RCW 30A.04.060 — Washington Code / Title 30A / Chapter 04 / Section 060
RCW 30A.04.060: Examinations directed—Cooperative agreements and actions.
Status: in_force

(1) The director, assistant director, program manager, or an examiner shall visit each bank at least once every eighteen months, and oftener if necessary, or as otherwise required by the rules and interpretations of applicable federal banking examination authorities, for the purpose of making a full investigation into the condition of such corporation, and for that purpose they are hereby empowered to administer oaths and to examine under oath any director, officer, employee, or agent of such corporation. (2) The director may make such other full or partial examinations as deemed necessary and may examine any bank holding company that owns any portion of a bank chartered by the state of Washington and obtain reports of condition for any bank holding company that owns any portion of a bank chartered by the state of Washington. (3) The director may visit and examine into the affairs of any nonpublicly held corporation in which the bank or bank holding company has an investment or any publicly held corporation the capital stock of which is controlled by the bank or bank holding company; may appraise and revalue such corporations' investments and securities; and shall have full access to all the books, records, papers, securities, correspondence, bank accounts, and other papers of such corporations for such purposes. (4) The director may, in his or her discretion, accept in lieu of the examinations required in this section the examinations conducted at the direction of the federal reserve board or the federal deposit insurance corporation. (5) Any willful false swearing in any examination is perjury in the second degree. (6) The director may enter into cooperative and reciprocal agreements with the bank regulatory authorities of the United States, any state, the District of Columbia, or any trust territory of the United States for the periodic examination of domestic bank holding companies owning banking institutions in other states, the District of Columbia, or trust territories, and subsidiaries of such domestic bank holding companies, or of out-of-state bank holding companies owning a bank the principal operations of which are conducted in this state. The director may accept reports of examination and other records from such authorities in lieu of conducting his or her own examinations. The director may enter into joint actions with other regulatory bodies having concurrent jurisdiction or may enter into such actions independently to carry out his or her responsibilities under this title and assure compliance with the laws of this state. (7) Copies from the records, books, and accounts of a bank or holding company shall be competent evidence in all cases, equal with originals thereof, if there is annexed to such copies an affidavit taken before a notary public or clerk of a court under seal, stating that the affiant is the officer of the bank or holding company having charge of the original records, and that the copy is true and correct and is full so far as the same relates to the subject matter therein mentioned.
RCW 30B.10.240 — Washington Code / Title 30B / Chapter 10 / Section 240
RCW 30B.10.240: Statute of limitations.
Status: in_force

(1) An action seeking any remedy under RCW 30B.10.070 , 30B.10.080 , or 30B.10.190 shall commence no later than five years after the cause of action accrued. (2) A cause of action under this section is deemed to have accrued at the later of the following events: (a) The occurrence of the act or omission; (b) When the department discovers or should have discovered that the act or omission has occurred; (c) When the department discovers or should have discovered that the act or omission has negatively impacted the capital status or other element of safety or soundness of a state trust company or out-of-state trust company doing business in Washington state; or (d) Where an act or omission is part of a pattern or practice, upon the occurrence of the most recent act or omission comprising the pattern or practice. A cause of action under this subsection may include all acts or omissions comprising the pattern or practice if the cause of action is timely as to the most recent act or omission.
RCW 30A.44.170 — Washington Code / Title 30A / Chapter 44 / Section 170
RCW 30A.44.170: Voluntary liquidation—Notice to creditors.
Status: in_force

Any bank may, upon receipt of written permission from the director, go into voluntary liquidation by a vote of its stockholders owning two-thirds of its capital stock. When such liquidation is authorized, the directors of such corporation shall publish in a newspaper published in the place where such corporation is located, once a week for four consecutive weeks, a notice requiring creditors of such corporation to present their claims against it for payment.
RCW 30A.04.112 — Washington Code / Title 30A / Chapter 04 / Section 112
RCW 30A.04.112: "Loans or obligations" and "liabilities" limited for purposes of RCW 30.04.111.
Status: in_force

Sales of federal reserve funds with a maturity of one business day or under a continuing contract are not "loans or obligations" or "liabilities" for the purposes of the loan limits established by *RCW 30.04.111 . However, sales of federal reserve funds with a maturity of more than one business day are subject to those limits. For the purposes of this section, "sale of federal reserve funds" means any transaction among depository institutions involving the disposal of immediately available funds resulting from credits to deposit balances at federal reserve banks or from credits to new or existing deposit balances due from a correspondent depository institution.
RCW 30A.42.150 — Washington Code / Title 30A / Chapter 42 / Section 150
RCW 30A.42.150: Loans subject to usury laws.
Status: in_force

Loans made by an office shall be subject to the laws of the state of Washington relating to usury.
RCW 30A.12.047 — Washington Code / Title 30A / Chapter 12 / Section 047
RCW 30A.12.047: Removal of a director, officer, or employee of a bank or holding company—Violation of final order—Penalty.
Status: in_force

Any present or former director, officer, or employee of a bank or holding company, or any other person against whom there is outstanding an effective final order served upon the person and who participates in any manner in the conduct of the affairs of the bank or holding company involved; or who directly or indirectly solicits or procures, transfers or attempts to transfer, or votes or attempts to vote any proxies, consents, or authorizations with respect to any voting rights in the bank or holding company; or who, without the prior approval of the director, votes for a director or serves or acts as a director, officer, employee, or agent of any bank or holding company shall upon conviction for a violation of any order, be guilty of a gross misdemeanor punishable as prescribed under chapter 9A.20 RCW, as now or hereafter amended.
RCW 30A.98.040 — Washington Code / Title 30A / Chapter 98 / Section 040
RCW 30A.98.040: Prior investments or transactions not affected.
Status: in_force

Nothing in this title shall be construed to affect the legality of investments, made prior to March 10, 1917, or of transactions had before March 10, 1917, pursuant to any provisions of law in force when such investment were made or transactions had. (Adopted from 1917 c 80 § 77 .)
RCW 30A.36.040 — Washington Code / Title 30A / Chapter 36 / Section 040
RCW 30A.36.040: Impairment to be corrected before retirement of notes or debentures.
Status: in_force

Before such capital notes or debentures are retired or paid by the bank or mutual savings bank, any existing impairment of its capital stock must be overcome or corrected to the satisfaction of the director.
RCW 30B.10.180 — Washington Code / Title 30B / Chapter 10 / Section 180
RCW 30B.10.180: Emergency order—Judicial review.
Status: in_force

(1) When the director finds it necessary for one or more of the purposes set forth in subsection (2) of this section, the director may issue and serve an emergency order upon: (a) A state trust institution, its affiliate, a director, officer, manager, employee, or agent of such state trust institution or its affiliate, or any person subject to the authority of this title, requiring the respondent to take immediate affirmative action or immediately cease and desist from any act, practice, or omission or failure to act; or (b) A director, officer, manager, or employee of a state trust company or its affiliate to suspend or remove such person from his or her office or employment with the state trust company or its affiliate pursuant to RCW 30B.10.080 . (2) Such emergency order may be issued to: (a) Ensure the safety or soundness of the authorized trust institution; (b) Prevent the state trust institution's insolvency or inability to pay its obligations in the ordinary course of business; (c) Prevent significant or critical undercapitalization or substantial dissipation of assets; (d) Compel timely compliance with a supervisory agreement, supervisory directive, or order of the director; (e) Compel production of or access to its books, papers, records, or affairs as directed by the department or other applicable financial services regulator; (f) Prevent immediate and irreparable harm to the public interest, interests of the trustors or beneficiaries, or condition of the state trust institution; or (g) Prevent fraudulent activity. (3) The emergency order must: (a) Be served upon each entity or person subject to the order by personal delivery or registered or certified mail, return receipt requested, to the entity or person's last known address; (b) State the specific acts or omissions at issue and require the entity or person to immediately comply with the order; and (c) Contain a notice that a request for hearing may be filed by the respondent within ten days of service with the superior court, as set forth in subsection (5) of this section. (4) Unless a respondent against whom the order is directed files a petition for judicial review with the court within ten days after the order is served under this section, the order is nonappealable and any right to a hearing is deemed conclusively waived as to that respondent. (5) A petition for judicial review must: (a) Be filed with the superior court of the county of the principal place of business of the respondent or, in the case of the respondent not being domiciled in Washington state, the Thurston county superior court; (b) State the specific respondents seeking review of the order; and (c) State the specific grounds and authority to set aside or modify the order. (6) Upon receipt of a timely filed petition for review, the court shall set the time and place of a hearing, no later than ten business days after the petition for review is filed, unless otherwise agreed by the parties. (7) The department shall bear the burden of proof by a preponderance of evidence. (8) Pending judicial review, the emergency order shall continue in full force and effect unless the order is stayed by the department.
RCW 30B.98.005 — Washington Code / Title 30B / Chapter 98 / Section 005
RCW 30B.98.005: Continuation of existing law.
Status: repealed

The provisions of this title, insofar as they are substantially the same as statutory provisions repealed by chapter 37, Laws of 2014 and relating to the same subject matter, shall be construed as restatements and continuations, and not as new enactments.
RCW 30A.08.087 — Washington Code / Title 30A / Chapter 08 / Section 087
RCW 30A.08.087: Authorized but unissued shares of capital stock—Issuance—Consideration.
Status: in_force

Any bank may provide in its articles of incorporation or amendments thereto for authorized but unissued shares of its capital stock. The shares may be issued for such consideration as shall be established by the board from time to time and all consideration received therefor shall be allocated to the capital stock or surplus of the corporation.
RCW 30A.04.232 — Washington Code / Title 30A / Chapter 04 / Section 232
RCW 30A.04.232: Additional authority of out-of-state holding company to acquire stock or assets of bank or national banking association.
Status: in_force

(1) In addition to an acquisition pursuant to RCW 30A.04.230 , an out-of-state bank holding company may acquire more than five percent of the voting stock or all or substantially all of the assets of a bank or national banking association, the principal operations of which are conducted within this state, if the bank or national banking association or its predecessor, the voting stock of which is to be acquired, shall have been conducting business for a period of not less than five years. (2) The director, consistent with 12 U.S.C. Sec. 1842(d)(2)(D), may approve an acquisition if the standard on which the approval is based does not discriminate against out-of-state banks, out-of-state bank holding companies, or subsidiaries of those banks or holding companies. (3) As used in this section, the terms "bank holding company," "domestic bank holding company," and "out-of-state bank holding company" shall have the meanings provided in RCW 30A.04.230 .
RCW 30A.44.050 — Washington Code / Title 30A / Chapter 44 / Section 050
RCW 30A.44.050: Powers and duties of director.
Status: in_force

Upon taking possession of any bank, the director shall proceed to collect the assets thereof and to preserve, administer and liquidate the business and assets of such corporation. With the approval of the superior court of the county in which such corporation is located, he or she may sell, compound or compromise bad or doubtful debts, and upon such terms as the court shall direct borrow, mortgage, pledge or sell all or any part of the real estate and personal property of such corporation. He or she shall deliver to each purchaser or lender an appropriate deed, mortgage, agreement of pledge or other instrument of title or security. If real estate is situated outside of said county, a certified copy of the orders authorizing and confirming the sale or mortgage thereof shall be filed for record in the office of the auditor of the county in which such property is situated. He or she may appoint special assistants and other necessary agents to assist in the administration and liquidation of such corporation, a certificate of such appointment to be filed with the clerk of the county in which such corporation is located. He or she shall require each special assistant to give a surety company bond, conditioned as he or she shall provide, the premium of which shall be paid out of the assets of such corporation. He or she may also employ an attorney for legal assistance in such administration and liquidation.
RCW 30A.04.238 — Washington Code / Title 30A / Chapter 04 / Section 238
RCW 30A.04.238: Purchase of own capital stock authorized.
Status: in_force

(1) Notwithstanding any other provision of this title, a bank, with the prior approval of the director, may purchase shares of its own capital stock. (2) When a bank purchases such shares, its capital accounts shall be reduced appropriately. The shares shall be held as authorized but unissued shares.
RCW 30A.04.240 — Washington Code / Title 30A / Chapter 04 / Section 240
RCW 30A.04.240: Trust business to be kept separate—Authorized deposit of securities.
Status: in_force

(1) A person authorized under this title or Title 30B RCW to engage in a trust business shall maintain in its office a trust department in which it shall keep books and accounts of its trust business, separate and apart from its other business. Such books and accounts shall specify the cash, securities and other properties, real and personal, held in each trust, and such securities and properties shall be at all times segregated from all other securities and properties except as otherwise provided in this section. (2) Any person connected with a bank who shall, contrary to this section or any other provision of law, commingle any funds or securities of any kind held by such corporation in trust, for safekeeping or as agent for another, with the funds or assets of the corporation is guilty of a class B felony punishable according to chapter 9A.20 RCW. (3) Notwithstanding any other provisions of law, any fiduciary holding securities in its fiduciary capacity or any state bank or national bank holding securities as fiduciary or as custodian for a fiduciary is authorized to deposit or arrange for the deposit of such securities: (a) In a clearing corporation (as defined in Article 8 of the Uniform Commercial Code, chapter 62A.8 RCW); (b) within another state bank, national bank, or trust company having trust power whether located inside or outside of this state; or (c) within itself. When such securities are so deposited, certificates representing securities of the same class of the same issuer may be merged and held in bulk in the name of the nominee of such clearing corporation or state bank, national bank, or trust company holding the securities as the depository, with any other such securities deposited in such clearing corporation or depository by any person, regardless of the ownership of such securities, and certificates of small denomination may be merged into one or more certificates of larger denomination. The records of such fiduciary and the records of such state bank, national bank, or trust company as a fiduciary or as custodian for a fiduciary shall at all times show the name of the party for whose account the securities are so deposited. Ownership of, and other interests in, such securities may be transferred by bookkeeping entries on the books of such clearing corporation, state bank, national bank, or trust company without physical delivery or alteration of certificates representing such securities. A state bank, national bank, or trust company so depositing securities pursuant to this section shall be subject to such rules and regulations as, in the case of state-chartered banks, the director and, in the case of national banking associations, the comptroller of the currency may from time to time issue. A state bank or national bank acting as custodian for a fiduciary shall, on demand by the fiduciary, certify in writing to the fiduciary the securities so deposited by such state bank or national bank in such clearing corporation or state bank, national bank, or trust company acting as such depository for the account of such fiduciary. A fiduciary shall, on demand by any party to a judicial proceeding for the settlement of such fiduciary's account or on demand by the attorney for such party, certify in writing to such party the securities deposited by such fiduciary in such clearing corporation or state bank, national bank, or trust company acting as such depository for its account as such fiduciary. This subsection shall apply to any fiduciary holding securities in its fiduciary capacity, and to any state bank or national bank holding securities as a custodian, managing agent, or custodian for a fiduciary, acting on March 14, 1973 or who thereafter may act regardless of the date of the agreement, instrument, or court order by which it is appointed and regardless of whether or not such fiduciary, custodian, managing agent, or custodian for a fiduciary owns capital stock of such clearing corporation.
RCW 30B.46.020 — Washington Code / Title 30B / Chapter 46 / Section 020
RCW 30B.46.020: Scope of chapter—Corrective action measures.
Status: in_force

(1) The purpose of this chapter is to provide expeditious methods for the department to exercise proper supervision over the safety and soundness of state trust companies in the interest of Washington state's fiduciary industry and the general public. To that end, this chapter prescribes a series of progressive corrective action measures available to the director, as necessary and in connection with the exercise of his or her examination authority, the ultimate object of which is to restore a state trust company to a state of safe and sound condition and practices and to prevent, if possible, involuntary dissolution of the state trust company under chapter 30B.44B RCW. (2) In order of progression, these corrective action measures include: (a) The supervisory directive, which may be issued with the consent of a state trust company as a supervisory agreement or memorandum of understanding or without the state trust company's consent; (b) The corrective action order, which may be issued with or without the consent of a state trust company; and (c) The order of conservatorship, which may be issued with or without the consent of a state trust company. (3) The director may issue and impose upon a state trust company, in lieu of or in addition to his or her authority to issue and serve a notice and statement of charges pursuant to chapter 30B.10 RCW, the following: (a) A supervisory agreement or memorandum of understanding; (b) A supervisory directive without the state trust company's consent; (c) A corrective action order, with or without its consent; and (d) An order of conservatorship, with or without its consent. (4) A supervisory agreement or memorandum of understanding, or corrective action order or order of conservatorship consented to by a state trust company, shall not be subject to review except upon a claim by the state trust company or other person with standing under RCW 34.05.530 , made in good faith, that the terms and conditions of the supervisory agreement or memorandum of understanding, corrective action order, or order of conservatorship exceed the authority of the director under this title and that consent to the supervisory agreement or memorandum of understanding was unreasonably coerced. (5) A supervisory directive issued and imposed without the consent of the state trust company shall not be subject to review except by petition for judicial review in the manner provided by the Washington administrative procedure act, RCW 34.05.510 through 34.05.598 , inclusive. (6) A corrective action order or order of conservatorship issued and imposed against a state trust company without its consent shall be deemed an emergency order under RCW 30B.10.180 , subject only to judicial review as permitted by RCW 30B.10.180 . (7) No provision in this title shall preclude the director from issuing a corrective action order without having issued a supervisory directive, or issuing an order of conservatorship without having issued a supervisory directive or corrective action order. (8) No provision in this title shall preclude the director from issuing an order for involuntary dissolution of a state trust company without first having issued corrective action measures if: (a) Pursuant to RCW 30B.44B.005 , the director has determined there is no reasonable likelihood that a state trust company can be restored to a safe and sound condition in the foreseeable future; or (b) The state trust company gives its consent pursuant to RCW 30B.44B.010 .
RCW 30A.04.017 — Washington Code / Title 30A / Chapter 04 / Section 017
RCW 30A.04.017: Director's subpoenas—Unauthorized banking activity.
Status: in_force

(1) The director or authorized assistants may apply for and obtain a superior court order approving and authorizing a subpoena in advance of its issuance. The application may be made in the county where the subpoenaed person resides or is found, or the county where the subpoenaed documents, records, or evidence are located, or in Thurston county. The application must: (a) State that an order is sought under this section; (b) Adequately specify the documents, records, evidence, or testimony; and (c) Include a declaration made under oath that an investigation is being conducted for a lawfully authorized purpose related to an investigation within the department's authority and that the subpoenaed documents, records, evidence, or testimony are reasonably related to an investigation within the department's authority. (2) When an application under this section is made to the satisfaction of the court, the court must issue an order approving the subpoena. An order under this subsection constitutes authority of law for the agency to subpoena the documents, records, evidence, or testimony. (3) The director or authorized assistants may seek approval and a court may issue an order under this section without prior notice to any person, including the person to whom the subpoena is directed and the person who is the subject of an investigation. An application for court approval is subject to the fee and process set forth in RCW 36.18.012 (3). (4) Subsections (1) through (3) of this section are applicable to the director's enforcement authority under this title against persons engaged in unauthorized banking activity and persons, other than a bank authorized under this title, whom the director has reason to believe are in violation of this title. This section does not limit the authority of the director to investigate or examine a bank authorized under this title without applying for or obtaining a superior court order or issuing a subpoena pursuant to this section.
RCW 30A.38.060 — Washington Code / Title 30A / Chapter 38 / Section 060
RCW 30A.38.060: Rules.
Status: in_force

The director may adopt those rules necessary to implement chapter 2, Laws of 1996."Financial institution," as used in the foregoing provisions of this chapter, means a branch of a bank engaged in banking in this state in accordance with *RCW 30.04.300 , and any state bank or trust company, national banking association, stock savings bank, mutual savings bank, or savings and loan association, which institution is located in this state and lawfully engaged in business.
RCW 30A.36.030 — Washington Code / Title 30A / Chapter 36 / Section 030
RCW 30A.36.030: Stock at less than par—Impairment.
Status: in_force

Where any bank or mutual savings bank has issued and has outstanding capital notes or debentures, it may carry its capital stock on its books at a sum less than par, and it shall not be considered impaired so long as the amount of such capital notes or debentures equals or exceeds the impairment as found by the director.
RCW 30A.44.130 — Washington Code / Title 30A / Chapter 44 / Section 130
RCW 30A.44.130: Expense of liquidation.
Status: in_force

All expenses incurred by the director in taking possession, administering and winding up any such corporation, including the expenses of assistants and reasonable fees for any attorney who may be employed in connection therewith, and the reasonable compensation of any special assistant placed in charge of such corporation shall be a first charge upon the assets thereof. Such charges shall be fixed by the director, subject to the approval of the court.
RCW 30A.42.200 — Washington Code / Title 30A / Chapter 42 / Section 200
RCW 30A.42.200: Books and accounts—English language.
Status: in_force

The books and accounts of an office and a bureau shall be kept in words and figures of the English language.
RCW 30B.53.040 — Washington Code / Title 30B / Chapter 53 / Section 040
RCW 30B.53.040: Effective date of merger—Certificate of merger.
Status: in_force

(1) A merger that is to result in a trust company shall, unless a later date is specified in the agreement, become effective after the filing with and upon the approval of the director of the executed agreement together with copies of the resolutions of the shareholders of each merging trust company approving it, certified by the trust company's president or manager and the secretary. The charters of the merging trust companies, other than the resulting trust company, shall immediately after that automatically terminate. (2) The director shall immediately after that issue to the resulting trust company a certificate of merger specifying the name of each merging trust company and the name of the resulting trust company. The certificate shall be conclusive evidence of the merger and of the correctness of all proceedings regarding the merger in all courts and places, and may be recorded in any office for the recording of deeds to evidence the new name in which the property of the merging trust companies is held.
RCW 30A.49.130 — Washington Code / Title 30A / Chapter 49 / Section 130
RCW 30A.49.130: Severability—1955 c 33.
Status: in_force

If any provision of this chapter or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this end the provisions of the chapter are declared to be severable. The invalidity of any provision as to a national bank or as to the stockholders of a national bank shall not affect its validity as to a state bank or as to the stockholders of a state bank.
RCW 30B.72.010 — Washington Code / Title 30B / Chapter 72 / Section 010
RCW 30B.72.010: Preexisting approved out-of-state trust institutions.
Status: in_force

(1) An out-of-state trust institution that has, prior to July 28, 2019, obtained approval from the director under authority of Title 30 RCW, as it existed before January 5, 2015, or under authority of this title, as it existed prior to July 28, 2019, to engage in trust business in Washington state and has continuously since the date of such approval held itself out to the public as engaging in trust business in Washington state, shall be exempt from the requirement of notice to or obtaining approval from the director pursuant to chapter 30B.38 RCW. (2) For purposes of this section, the term "director" includes the former office of the supervisor of banks that merged into the department under authority of chapter 43.320 RCW. (3) For purposes of this section, satisfactory evidence of approval from the director may be established only by written evidence that the director gave his or her approval prior to July 28, 2019, in the form of a certificate of authority, declaration of reciprocity between Washington state and the home state of the out-of-state trust institution, or the equivalent. Authorization from the secretary of state to transact business in Washington state as a foreign corporation or foreign limited liability company is not by itself satisfactory evidence of such approval from the director. (4) For purposes of this section, an out-of-state trust institution with satisfactory evidence of the director's approval to engage in trust business prior to July 28, 2019, is presumed to have: (a) Complied with chapter 30B.38 RCW; and (b) Continuously held itself out to the public as engaging in trust business in Washington state since the date of the director's approval.
RCW 30B.10.005 — Washington Code / Title 30B / Chapter 10 / Section 005
RCW 30B.10.005: Director supervision over authorized trust institutions.
Status: in_force

(1) The director shall exercise supervision authority over state trust companies and also over out-of-state trust institutions as set forth in this chapter or to the extent provided for in cooperative agreements made by the director with the home states of out-of-state trust institutions pursuant to RCW 30B.38.060 . (2) The director shall execute and enforce through the department and such other agents as exist on or after January 5, 2015, all laws which exist on or after January 5, 2015, relating to state trust companies and out-of-state trust institutions engaged in trust business in Washington state. (3) For the more complete and thorough enforcement of the provisions of this title, the department is authorized to adopt rules not inconsistent with the provisions of this title, as may, in its opinion, be necessary to carry out the provisions of this title and as may be further necessary to insure safe and sound management of trust institutions under its supervision taking into consideration the appropriate interest of the creditors, stockholders, participants, and the public in their relations with such trust institutions. (4) A state trust company shall conduct its business in a manner consistent with all laws relating to trust companies, and all rules, regulations, and instructions that may be adopted or issued by the department.
RCW 30A.12.120 — Washington Code / Title 30A / Chapter 12 / Section 120
RCW 30A.12.120: Loans to officers or employees from trust funds—Penalty.
Status: in_force

No corporation doing a trust business shall make any loan to any officer, or employee from its trust funds, nor shall it permit any officer, or employee to become indebted to it in any way out of its trust funds. Every officer, director, or employee of any such corporation, who knowingly violates this section, or who aids or abets any other person in any such violation, is guilty of a class B felony punishable according to chapter 9A.20 RCW.
RCW 30B.44A.060 — Washington Code / Title 30B / Chapter 44A / Section 060
RCW 30B.44A.060: Procedures for voluntary liquidation.
Status: in_force

Except as set forth in this chapter to the contrary, the procedures for voluntary liquidation of a state trust company shall be consistent with Title 23B RCW, if the state trust company is a corporation, and chapter 25.15 RCW, if the state trust company is a limited liability company.
RCW 30A.44.140 — Washington Code / Title 30A / Chapter 44 / Section 140
RCW 30A.44.140: Liquidation after claims are paid.
Status: in_force

When all proper claims of depositors and creditors (not including stockholders) have been paid, as well as all expenses of administration and liquidation and proper provision has been made for unclaimed or unpaid deposits and dividends, and assets still remain in his or her hands, the director shall call a meeting of the stockholders of such corporation, giving thirty days' notice thereof, by one publication in a newspaper published in the county where such corporation is located. At such meeting, each share shall entitle the holder thereof to a vote in person or by proxy. A vote by ballot shall be taken to determine whether the director shall wind up the affairs of such corporation or the stockholders appoint an agent to do so. The director, if so required, shall wind up such corporation and distribute its assets to those entitled thereto. If the appointment of an agent is determined upon, the stockholders shall forthwith select such agent by ballot. Such agent shall file a bond to the state of Washington in such amount and so conditioned as the director shall require. Thereupon the director shall transfer to such agent the assets of such corporation then remaining in his or her hands, and be relieved from further responsibility in reference to such corporation. Such agent shall convert the assets of such corporation into cash and distribute the same to the parties thereunto entitled, subject to the supervision of the court. In case of his or her death, removal or refusal to act, the stockholders may select a successor with like powers.
RCW 30B.38.090 — Washington Code / Title 30B / Chapter 38 / Section 090
RCW 30B.38.090: Functionally unregulated out-of-state trust institutions.
Status: in_force

Notwithstanding any other provision of this chapter, an out-of-state trust institution engaging in trust business in Washington state, which is not an exempt person under RCW 30B.04.040 and which by reason of the laws of its home state is not, in the opinion of the director, subject to supervision, examination, or other safety and soundness oversight by a home state regulator, shall be subject to all the requirements of a state trust company under this title.
RCW 30B.08.100 — Washington Code / Title 30B / Chapter 08 / Section 100
RCW 30B.08.100: Scope of regulated activities of a state trust company.
Status: in_force

Notwithstanding the definition of "trust business" as set forth in RCW 30B.04.005 , the director has the authority to regulate the exercise of all powers and authorities of a state trust company which are enumerated in RCW 30B.08.080 and which may be conferred by way of parity under RCW 30B.38.060 .
RCW 30A.26.090 — Washington Code / Title 30A / Chapter 26 / Section 090
RCW 30A.26.090: Injunction or similar relief.
Status: in_force

A court may enjoin, or grant similar relief that would have the effect of enjoining, a bank from paying a depositor or beneficiary only if payment would constitute a material fraud or facilitate a material fraud with respect to a special deposit.
RCW 30B.38.005 — Washington Code / Title 30B / Chapter 38 / Section 005
RCW 30B.38.005: Trust business at a trust office.
Status: in_force

(1) An out-of-state trust institution that meets the requirements of this chapter is not required to maintain a physical trust office in Washington state. (2) An out-of-state trust institution that does not operate a trust office in Washington state and that meets the requirements of this chapter may establish and maintain a new trust office in Washington state. (3) As used in this chapter, "doing business in Washington state," with reference to an out-of-state trust institution, means purposely availing oneself of regularly transacting trust business with the public in Washington state, or otherwise seeking to regularly transact trust business with the public in Washington state by means of solicitation, which the director may so determine if all or part of the administration of any trust or other agreement to conduct trust business is administered or sought to be administered in Washington state, or if a trust or other trust business agreement, with the assent of the out-of-state trust institution, specifies Washington state as the situs of the trust or situs of the tangible or intangible property covered by the trust business agreement.
RCW 30A.42.120 — Washington Code / Title 30A / Chapter 42 / Section 120
RCW 30A.42.120: Requirements for accepting deposits or transacting business.
Status: in_force

A branch shall not commence to transact in this state the business of accepting deposits or transact such business thereafter unless it has met the following requirements: (1) It has obtained federal deposit insurance corporation insurance covering its eligible deposit liabilities within this state, or in lieu thereof, made arrangements satisfactory to the director for maintenance within this state of additional capital equal to not less than five percent of its deposit liabilities, computed on the basis of the average daily net deposit balances covering semimonthly periods as prescribed by the director. Such additional capital shall be deposited in the manner provided in RCW 30A.42.070 . (2) It holds in this state currency, bonds, notes, debentures, drafts, bills of exchange, or other evidences of indebtedness or other obligations payable in the United States or in United States funds or, with the approval of the director, in funds freely convertible into United States funds or such other assets as are approved by the director, in an amount not less than one hundred percent of the aggregate amount of liabilities of such alien bank payable at or through its office in this state. When calculating the value of the assets so held, credit shall be given for the amounts deposited pursuant to RCW 30A.42.060 (3) and 30A.42.120 (1), but there shall be excluded all amounts due from the head office and any other branch, agency, or other office or wholly-owned subsidiary of the bank, except those amounts due from such offices or subsidiaries located within the United States and payable in United States dollars. (3) If deposits are not insured by the federal deposit insurance corporation, then that fact shall be disclosed to all depositors pursuant to rules of the director. (4) If the branch conducts an international banking facility, the deposits of which are exempt from reserve requirements of the federal reserve banking system, the liabilities of that facility shall be excluded from the deposit and other liabilities of the branch for the purposes of subsection (1) of this section.
RCW 30A.12.0401 — Washington Code / Title 30A / Chapter 12 / Section 0401
RCW 30A.12.0401: Written notice of charges under RCW 30A.12.042.
Status: in_force

The director may serve written notice of charges under RCW 30A.12.040 to suspend a person from further participation in any manner in the conduct of the affairs of a bank or holding company, if the director determines that such an action is necessary for the protection of the bank, or the interests of the depositors of the bank. Any suspension notice issued by the director is effective upon service, and unless the superior court of the county of its principal place of business issues a stay of the order, remains in effect and enforceable until: (1) The director dismisses the charges contained in the notice served to the person; or (2) The effective date of a final order for removal of the person under RCW 30A.12.040 .
RCW 30B.10.110 — Washington Code / Title 30B / Chapter 10 / Section 110
RCW 30B.10.110: Director's authority to protect the public and state trust institutions.
Status: in_force

(1) Notwithstanding any other provision of this title, the director may by rule or order prohibit any person from engaging in a trust business in Washington state contrary to the requirements of this title if the conduct of the trust business in Washington state by such person harms or is likely to harm the general public, or if it adversely affects the business of state trust institutions. (2) The director may issue an emergency cease and desist order against such person in the manner provided for in RCW 30B.10.180 if the general public or state trust institutions are likely to be substantially injured by delay in issuing a cease and desist order. (3) An order or rule made by the director pursuant to this section may require that any applicable person obtain a certificate of authority under chapter 30B.08 RCW as a condition of continuing to engage in a trust business in Washington state, subject to meeting all qualifications for grant of a state trust company certificate of authority under this title. (4) This section does not apply to a person conducting business pursuant to RCW 30B.04.040 , except for a person identifiable solely by reason of RCW 30B.04.040 (1).
RCW 30B.38.070 — Washington Code / Title 30B / Chapter 38 / Section 070
RCW 30B.38.070: Enforcement.
Status: in_force

(1) Consistent with chapter 30B.10 RCW, the director may determine an out-of-state trust institution engaging in trust business in Washington state, or its affiliate, is in violation of any provision of this title or is operating in an unsafe and unsound manner. (2) The director shall have the authority to take all such enforcement actions against an out-of-state trust institution or its affiliate as he or she is empowered to take under chapter 30B.10 RCW, including but not limited to issuing an order temporarily or permanently prohibiting the out-of-state trust institution or its affiliate from engaging in trust business in Washington state. (3) The director may make a written finding that an out-of-state trust institution engaging in or proposing to engage in a trust business in Washington state does not meet the requirements for engaging in trust business in Washington state pursuant to this chapter or RCW 30B.72.010 , which finding shall be effective on the date of issuance or such other date as the director shall determine. (4) In cases involving extraordinary circumstances requiring immediate action, the director may issue pursuant to RCW 30B.10.180 an emergency order without advance notice or opportunity for hearing, subject to the right of the out-of-state trust institution or, as applicable, its affiliate, to petition for judicial review in the same manner as a state trust company under this title. (5) The director will give notice to the home state regulator of each enforcement action taken against an out-of-state trust institution or its affiliate and, to the extent practicable, will consult and cooperate with the home state regulator in pursuing and resolving such enforcement action.
RCW 30B.04.040 — Washington Code / Title 30B / Chapter 04 / Section 040
RCW 30B.04.040: Activities not requiring certificate of authority or approval under this title.
Status: in_force

A person is exempt from the requirement of a certificate of authority or approval under this title if the person is: (1) An individual, sole proprietor, or general partnership or joint venture composed of individuals; (2) Engaging in business in Washington state (a) as a national banking association or (b) as a federal mutual savings bank, federal stock savings bank, or federal savings and loan association under authority of the office of the comptroller of the currency; (3) Acting in a manner otherwise authorized by law and within the scope of authority as an agent of a trust institution with respect to an activity which is not an unauthorized trust activity; (4) Acting as a fiduciary solely by reason of being appointed by a court to perform the duties of a trustee, guardian, conservator, or receiver; (5) While holding oneself out to the public as an attorney-at-law, law firm, or limited license legal technician, performing a service customarily performed as an attorney-at-law, law firm, or limited license legal technician in a manner approved and authorized by the supreme court of the state of Washington; (6) Acting as an escrow agent pursuant to the escrow agent registration act, chapter 18.44 RCW, or in one's capacity as an authorized title agent under Title 48 RCW; (7) Acting as trustee under a deed of trust delivered only as security for the payment of money or for the performance of another act; (8) Receiving and distributing rents and proceeds of sale as a licensed real estate broker on behalf of a principal in a manner authorized by the Washington department of licensing; (9) Engaging in a commodities or securities transaction or providing an investment advisory service in the capacity of a registered broker-dealer, investment advisor, or registered representative thereof, provided the activity is regulated by the department, the United States commodities futures trading commission, or the United States securities and exchange commission; (10) Engaging in the sale and administration of an insurance product by an insurance company or agent licensed by the office of the insurance commissioner to the extent that the activity is regulated by the office of the insurance commissioner; (11) Acting as trustee under a voting trust as provided by Washington state law; (12) Acting as trustee by a public, private, or independent institution of higher education or a university system authorized under Washington state law, including its affiliated foundations or corporations, with respect to endowment funds or other funds owned, controlled, provided to, or otherwise made available to such institution with respect to its educational or research purposes; (13) Acting as a private trust or private trust company to the extent exempt from regulation of the department as set forth in chapter 30B.64 RCW; or (14) Engaging in other activities expressly excluded from the application of this title by rule of the director.
RCW 30B.46.030 — Washington Code / Title 30B / Chapter 46 / Section 030
RCW 30B.46.030: Supervisory directive.
Status: in_force

(1) If, upon examination or investigation, or at any other time, it appears to the director that a state trust company is in an unsafe condition and its condition is such as to render the continuance of its business, without the director's supervisory directive, harmful to the public or to its beneficiaries, shareholders, or trustors, then the director may either negotiate and enter into a supervisory agreement or memorandum of understanding with the state trust company, or issue and deliver a supervisory directive or corrective action order without its consent, the contents of which shall contain: (a) Notice to the state trust company of the director's supervisory determination; and (b) A written list and description of the requirements necessary to abate the director's determination. (2) If placed under a supervisory directive, with or without its consent, the state trust company shall comply with the director's lawful requirements as contained in the supervisory directive and within such time as provided in the supervisory directive. (3) If the state trust company fails to comply with the supervisory directive within the time provided, the director may issue and deliver to the state trust company, with or without its consent, a corrective action order or an order of conservatorship.
RCW 30B.20.020 — Washington Code / Title 30B / Chapter 20 / Section 020
RCW 30B.20.020: Common trust funds—Collective investment funds.
Status: in_force

(1) Consistent with RCW 11.102.010 , a state trust company may establish common trust funds to provide investment to itself as a fiduciary. (2) The director may adopt rules to administer and carry out this section and RCW 11.102.010 , including but not limited to rules to establish investment and participation limitations, disclosure of fees, audit requirements, limit or expand investment authority for particular classes or categories of securities or other property, advertising, exemptions, and other requirements that may be necessary to carry out this section. (3) A state trust company that invests in a collective investment fund shall make investments as required by RCW 30B.24.030 and in conformity with the contents of the state trust company's written statement of principles of trust management, pursuant to RCW 30B.24.040 , as adopted by the board and subject to approval of the department. A state trust company shall also comply with RCW 30B.24.020 in avoiding conflicts of interest and self-dealing in relation to a collective investment fund. (4) Unless otherwise prescribed by the director by rule, a state trust company shall be required to establish and maintain collective investment funds the same as required for a federally insured state bank with authorized trust powers, taking into account federal rules applicable to a federally insured state bank in relation to a collective trust fund that require a written plan and specific requirements for fund management including, without limitation, provision for proportionate interests, methods and frequency of valuation of all or portions of the fund, admission and withdrawal of accounts, methods of distribution, segregation of investments, audit and financial reports related to the collective investment fund, advertising restrictions, management fees, expenses, and prohibition against certificates. (5) Notwithstanding the general use of the term "affiliate" in this title as defined in RCW 30B.04.005 , nothing in this chapter shall be construed as exempting or modifying a requirement of a state trust institution with respect to RCW 11.102.010 .
RCW 30A.04.215 — Washington Code / Title 30A / Chapter 04 / Section 215
RCW 30A.04.215: Engaging in other business activities.
Status: in_force

(1) Notwithstanding any other provisions of law, in addition to all powers enumerated by this title, and those necessarily implied therefrom, a bank may engage in other business activities that have been determined by the board of governors of the federal reserve system or by the United States Congress to be closely related to the business of banking, as of July 28, 2013. (2) A bank that desires to perform an activity that is not expressly authorized by subsection (1) of this section shall first apply to the director for authorization to conduct such activity. Within thirty days of the receipt of this application, the director shall determine whether the activity is closely related to the business of banking, whether the public convenience and advantage will be promoted, whether the activity is apt to create an unsafe and unsound practice by the bank and whether the applicant is capable of performing such an activity. If the director finds the activity to be closely related to the business of banking and the bank is otherwise qualified, he or she shall immediately inform the applicant that the activity is authorized. If the director determines that such activity is not closely related to the business of banking or that the bank is not otherwise qualified, he or she shall promptly inform the applicant in writing. The applicant shall have the right to appeal from an unfavorable determination in accordance with the procedures of the Administrative Procedure Act, chapter 34.05 RCW. In determining whether a particular activity is closely related to the business of banking, the director shall be guided by the rulings of the board of governors of the federal reserve system and the comptroller of the currency in making determinations in connection with the powers exercisable by bank holding companies, and the activities performed by other commercial banks or their holding companies. (3) Notwithstanding any restrictions, limitations, and requirements of law, in addition to all powers, express or implied, that a bank has under the laws of this state, a bank shall have the powers and authorities conferred as of July 28, 1985, or as of any subsequent date not later than July 28, 2013, upon any federally chartered bank doing business in this state. A bank may exercise the powers and authorities conferred on a federally chartered bank after July 28, 2013, only if the director finds that the exercise of such powers and authorities: (a) Serves the convenience and advantage of depositors, borrowers, or the general public; and (b) Maintains the fairness of competition and parity between state-chartered banks and federally chartered banks. (4) Notwithstanding any other provisions of law, a bank has the powers and authorities that an out-of-state state bank operating a branch in Washington has if the director finds that the exercise of such powers and authorities serves the convenience and advantage of depositors and borrowers, or the general public, and maintains the fairness of competition and parity between state-chartered banks and out-of-state state banks. (5) As used in this section, "powers and authorities" include without limitation powers and authorities in corporate governance and operational matters. (6) The restrictions, limitations, and requirements applicable to specific powers and authorities of federally chartered banks and out-of-state state banks, as applicable, shall apply to banks exercising those powers and authorities permitted under this section but only insofar as the restrictions, limitations, and requirements relate to exercising the powers and authorities granted banks solely under this section. (7) The director may require a bank to provide notice to the director prior to implementation of a plan to develop, improve, or continue holding real estate, including capitalized and operating leases, acquired through any means in full or partial satisfaction of a debt previously contracted, under circumstances which a national bank would be required to provide notice to the comptroller of the currency prior to implementation of such a plan. The director may adopt rules or issue orders, directives, standards, policies, memoranda, or other official communications to specify guidance with regard to the exercise of the powers and authorities to expend such funds as are needed to enable a bank to recover its total investment to the fullest extent authorized for a national bank under the national bank act, 12 U.S.C. Sec. 29. (8) Any activity which may be performed by a bank, except the taking of deposits, may be performed by (a) a corporation or (b) another entity approved by the director, which in either case is owned in whole or in part by the bank.
RCW 30A.42.270 — Washington Code / Title 30A / Chapter 42 / Section 270
RCW 30A.42.270: Taxation.
Status: in_force

An office of an alien bank shall be taxed on the same basis as are banks incorporated under the laws of this state.
RCW 30B.53.005 — Washington Code / Title 30B / Chapter 53 / Section 005
RCW 30B.53.005: Definitions.
Status: in_force

Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter. (1) "Acquiring person" means a person acquiring or seeking to acquire control of a state trust company, directly or indirectly. (2) "Control," "controls," "controlled," and "controlling" mean: (a) The ownership of or ability or power to vote, directly, acting through one or more other persons, or otherwise indirectly, twenty-five percent or more of the outstanding shares of a class of voting securities of a state trust company or other company; (b) The ability to control the election of a majority of the board of a state trust company or other company; (c) The power to exercise, directly or indirectly, a controlling influence over the management or policies of the state trust company or other company as determined by the director after notice and an opportunity for hearing; or (d) The conditioning of the transfer of twenty-five percent or more of the outstanding shares or participation shares of a class of voting securities of a state trust company on the transfer of twenty-five percent or more of the outstanding shares of a class of voting securities of another state trust company or other company. (3) "Merger" includes consolidation. (4) "Merging trust company" means a party to a merger. (5) "Resulting trust company" means the trust company resulting from a merger.