RCW 30A.44.030 — Washington Code / Title 30A / Chapter 44 / Section 030
RCW 30A.44.030: Director's right to take possession may be contested.
Status: in_force

Within ten days after the director takes possession thereof, a bank may serve a notice upon the director to appear before the superior court of the county wherein such corporation 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 bank should not be affirmed. Upon the return day of such notice, or such further day as the matter may be continued to, the court shall summarily hear said cause and shall dismiss the same, if it be found that possession was taken by the director in good faith and for cause, but if it find that no cause existed for the taking possession of such bank, it shall require the director to restore such bank to possession of its assets and enjoin the director from further interference therewith without cause.
RCW 30B.44B.140 — Washington Code / Title 30B / Chapter 44B / Section 140
RCW 30B.44B.140: Disposition of unclaimed personal property.
Status: in_force

(1) If, at the conclusion of the liquidation of a state trust company, there remains unclaimed personal property, other than monetary deposit accounts, which had previously been left with it for safekeeping, including unclaimed trust assets, such property shall be inventoried by the director or his or her special assistant or agent and segregated and identified by the name and last known address of the person who appears on the books of the state trust company, as of the date and time of its closure, as being entitled to the property. (2) Upon receiving possession of such unclaimed personal property, the director shall hold it for safekeeping. The liquidated state trust company, its directors, officers, managers, managing principals, and shareholders, and the director's special assistant or agent, if any, shall be relieved of responsibility and liability for the property so delivered to and received by the director. (3) The director shall then send to each person who appears on the books and records of the liquidated state trust company as having the right to such property, at his or her last known address, a notice that the property listed will be held in his or her name for a period of not less than one year. (4) At any time after the mailing of such notice, and before the expiration of one year, such person may require the delivery of the property so held, by properly identifying himself or herself and offering evidence of his or her right to such property, to the satisfaction of the director. The director may condition delivery of such property upon prior payment to the director of all storage costs and reasonable costs associated with such delivery.
RCW 30B.38.030 — Washington Code / Title 30B / Chapter 38 / Section 030
RCW 30B.38.030: Requirement of notice.
Status: in_force

An out-of-state trust institution desiring to engage in trust business in Washington state shall provide, or cause its home state regulator to provide, written notice to the director of its intent to engage in trust business in Washington state, accompanied by a written application containing: (1) Satisfactory evidence of a certificate of authority to engage in trust business in its home state, or equivalent, from its home state regulator; (2) A copy of the resolution adopted by the board of directors of such out-of-state trust institution authorizing the out-of-state trust institution to engage in trust business in Washington state; (3) Evidence of compliance with the requirements of the director set forth in RCW 30B.38.020 or a request for waiver of certain requirements of RCW 30B.38.020 satisfactory to the director; and (4) A filing fee, if any, as prescribed by the director under authority of RCW 30A.04.070 .
RCW 30B.53.060 — Washington Code / Title 30B / Chapter 53 / Section 060
RCW 30B.53.060: Dissenting shareholders—May receive value in cash—Appraisal.
Status: in_force

(1) The owner of shares of a trust company that were voted against a merger to result in a trust company shall be entitled to receive their value in cash, if and when the merger becomes effective, upon written demand made to the resulting trust company at any time within thirty days after the effective date of the merger, accompanied by the surrender of the share certificates. The value of the shares shall be determined, as of the date of the shareholders' meeting approving the merger, 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 resulting trust company, and the third by the two so chosen. The valuation agreed upon by any two appraisers shall govern. If the appraisal is not completed within ninety days after the merger becomes effective, the director shall cause an appraisal to be made. (2) The dissenting shareholders shall bear, on a pro rata basis based on number of dissenting shares owned, the cost of their appraisal and one-half of the cost of a third appraisal, and the resulting trust company shall bear the cost of its appraisal and one-half of the cost of the third appraisal. If the director causes an appraisal to be made, the cost of that appraisal shall be borne equally by the dissenting shareholders and the resulting trust company, with the dissenting shareholders sharing their half of the cost on a pro rata basis based on number of dissenting shares owned. (3) The resulting trust company may fix an amount which it considers to be not more than the fair market value of the shares of a merging trust company at the time of the shareholders' meeting approving the merger, that it will pay dissenting shareholders of the trust company entitled to payment in cash. The amount due under an accepted offer or under the appraisal shall constitute a debt of the resulting trust company.
RCW 30B.44A.005 — Washington Code / Title 30B / Chapter 44A / Section 005
RCW 30B.44A.005: Required vote of shareholders.
Status: in_force

A state trust company may go into voluntary liquidation and be closed, and may surrender its certificate of authority and franchise as a corporation or limited liability company of Washington state by the affirmative votes of its shareholders owning two-thirds of its shares.
RCW 30A.56.090 — Washington Code / Title 30A / Chapter 56 / Section 090
RCW 30A.56.090: New bank may be authorized.
Status: in_force

If the net assets of a bank operating under such a plan are sufficient to provide the capital and surplus of a newly organized bank in the same place, the director, under such reasonable conditions as he or she shall prescribe, may approve the incorporation of a new bank and permit it to take over the assets and business and assume the liabilities of the existing bank.
RCW 30B.44A.080 — Washington Code / Title 30B / Chapter 44A / Section 080
RCW 30B.44A.080: Cancellation of state trust company's certificate of authority.
Status: in_force

Whenever voluntary liquidation is approved by the director or the sale and transfer of the assets of any state trust company is approved by the director pursuant to this chapter, a certified copy of such approval, filed in the office of the secretary of state, shall authorize the cancellation of the certificate of authority of such state trust company, subject, however, to its continued existence, as either a general corporation under Title 23B RCW or a general limited liability company under chapter 25.15 RCW.
RCW 30A.56.050 — Washington Code / Title 30A / Chapter 56 / Section 050
RCW 30A.56.050: Plan for reorganization—Conditions.
Status: in_force

At the request of the directors of a bank, the director may propose a plan for its reorganization, if in his or her judgment it would be for the best interests of the bank's creditors and of the community which the bank serves. The plan may contemplate such temporary ratable reductions of the demands of depositors and other creditors as would leave its reserve adequate and its capital and surplus unimpaired after the charging off of bad and doubtful debts; and also may contemplate a postponement of payments as in a case falling within RCW 30A.56.020 . The plan shall be fully described in a writing, the original of which shall be filed in the office of the director and several copies of which shall be furnished the bank, where one or more copies shall be kept available for inspection by stockholders, depositors and other creditors.
RCW 30A.42.210 — Washington Code / Title 30A / Chapter 42 / Section 210
RCW 30A.42.210: Bureaus—Application procedure.
Status: in_force

(1) Application procedure. An alien bank shall not establish and operate a bureau in this state unless it is authorized to do so and unless it has met the following conditions: (a) It has filed with the director an application in such form and containing such information as shall be prescribed by the director; (b) It has paid the fee required by law and established by the director pursuant to *RCW 30.08.095 ; (c) It has received from the director a certificate authorizing the applicant bank to establish and operate a bureau in conformity herewith. (2) Upon receipt of the bank's application, and the conducting of such examination or investigation as the director deems necessary and appropriate and being satisfied that the opening of such bureau will be consistent with the purposes of this chapter, the director may grant approval for the bureau and issue a certificate authorizing the alien bank to establish and operate a bureau in the state of Washington.
RCW 30A.42.060 — Washington Code / Title 30A / Chapter 42 / Section 060
RCW 30A.42.060: Conditions to be met before opening office in state.
Status: in_force

An alien bank shall not hereafter open an office in this state until it has met the following conditions: (1) It has filed with the director an application in such form and containing such information as shall be prescribed by the director. (2) It has designated the director by a duly executed instrument in writing, its agent, upon whom process in any action or proceeding arising out of a transaction with the Washington office may be served. Such service shall have the same force and effect as if the alien bank were a Washington corporation and had been lawfully served with process within the state. The director shall forward by mail, postage prepaid, a copy of every process served upon him or her under the provisions of this subdivision, addressed to the manager or agent of such bank at its office in this state. (3) It has allocated and assigned to its office within this state paid-in capital of not less than two hundred thousand dollars or such larger amounts as the director in his or her discretion may require. (4) It has filed with the director a letter from its chief executive officer guaranteeing that the alien bank's entire capital and surplus is and shall be available for all liabilities and obligations of its office doing business in this state. (5) It has paid the fees required by law and established by the director pursuant to RCW 30A.04.070 . (6) It has received from the director his or her certificate authorizing the transaction of business in conformity with this chapter.
RCW 30B.24.005 — Washington Code / Title 30B / Chapter 24 / Section 005
RCW 30B.24.005: Prudential fiduciary standards.
Status: in_force

(1) Except to the extent federal preemption of state law is applicable in relation to trusts governed under the federal employment retirement income security act, a state trust company shall comply with all applicable provisions of this title and with applicable provisions of Title 11 RCW including, without limitation, chapters 11.97 , 11.98, *11.98A, 11.100, 11.102, 11.104B, 11.106, 11.107, and 11.108 RCW, and with chapter 11.110 RCW, in the case of a charitable trust. (2) The director has broad administrative authority to establish by rule or interpretation principles-based standards for examination, supervision, and enforcement of a state trust company by the department in relation to compliance with this title, including subsection (1) of this section. (3) A state bank, in relation to its trust department and its exercise of trust powers, shall comply with: (a) Title 30A RCW, if a state commercial bank, and Title 32 RCW, if a state savings bank; (b) The applicable provisions of Title 11 RCW including, without limitation, chapters 11.97 , 11.98, *11.98A, 11.100, 11.102, 11.104B, 11.106, 11.107, and 11.108 RCW, and with chapter 11.110 RCW, in the case of a charitable trust; (c) If the state bank is federally insured, any applicable rules and guidance of the federal deposit insurance corporation or other applicable federal law or regulation related to such state bank's exercise of trust powers; and (d) If the state bank is a member of the federal reserve system, any rules and guidance of the board of governors of the federal reserve system related to such state bank's exercise of trust powers.
RCW 30B.64.010 — Washington Code / Title 30B / Chapter 64 / Section 010
RCW 30B.64.010: Private trusts and private trust companies exempt—Exception for change of control.
Status: in_force

(1) A private trust or private trust company is exempt from the requirement of a certificate of authority or regulation under this title. (2) Notwithstanding subsection (1) of this section, a transfer or change of control of a private trust or private trust company to a person or persons other than family members constitutes unauthorized trust activity unless the resulting private trust company is a trust institution authorized to do business in this state.
RCW 30A.22.245 — Washington Code / Title 30A / Chapter 22 / Section 245
RCW 30A.22.245: Records—Admission as evidence—Certificate.
Status: in_force

Records obtained pursuant to this chapter shall be admitted as evidence in all courts of this state, under Washington rule of evidence 902, when accompanied by a certificate substantially in the following form: CERTIFICATE 1. The accompanying documents are true and correct copies of the records of [name of financial institution]. The records were made in the regular course of business of the financial institution at or near the time of the acts, events, or conditions which they reflect. 2. They are produced in response to a request made under *RCW 30.22.240 . 3. The undersigned is authorized to execute this certificate. I CERTIFY, under penalty of perjury under the laws of the State of Washington, that the foregoing statements are true and correct. ———— ———— Date Signature ———— ———— Place of Signing Type or Print Name/ Title/Telephone No.
RCW 30B.46.070 — Washington Code / Title 30B / Chapter 46 / Section 070
RCW 30B.46.070: Costs as charge against assets.
Status: in_force

(1) 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 state trust company to be allowed and paid as the director may determine. (2) A member of the board of directors of a state trust company or, in the case of a limited liability trust company, a managing participant, may, pursuant to notice and adjudication under chapter 30B.10 RCW, be found liable for such costs incurred that have not been recouped by the director out of the assets of the state trust company.
RCW 30B.10.030 — Washington Code / Title 30B / Chapter 10 / Section 030
RCW 30B.10.030: Generally accepted accounting principles.
Status: in_force

Unless otherwise provided for by rule of the director or other applicable rule or regulation, a state trust company shall conform to generally accepted accounting principles and applicable rules of the financial accounting standards board.
RCW 30A.46.070 — Washington Code / Title 30A / Chapter 46 / Section 070
RCW 30A.46.070: Suits against bank or conservator, where brought—Suits by conservator.
Status: in_force

Any suit filed against a bank or its conservator, after the entrance of an order by the director placing such bank in conservatorship and while such order is in effect, shall be brought in the superior court of Thurston county and not elsewhere. The conservator appointed hereunder for such bank may file suit in any superior court or other court of competent jurisdiction against any person for the purpose of preserving, protecting, or recovering any asset or property of such bank including claims or causes of action belonging to or which may be asserted by such bank.
RCW 30B.44B.030 — Washington Code / Title 30B / Chapter 44B / Section 030
RCW 30B.44B.030: Possession of trust assets and company assets and property with the director—Bar against attachment proceedings.
Status: in_force

The taking of possession of any state trust company by the director pursuant to RCW 30B.44B.005 or 30B.44B.010 is sufficient to place all of the state trust company's fiduciary assets in the custody of the director and all of the nonfiduciary assets and property of every nature in the director's possession and bar all attachment proceedings.
RCW 30A.56.070 — Washington Code / Title 30A / Chapter 56 / Section 070
RCW 30A.56.070: No dividends until reductions paid.
Status: in_force

A bank for which such a plan has been put into effect shall not declare or pay a dividend or distribute any of its assets among stockholders until there shall have been set aside for and credited ratably to the creditors whose demands were reduced an amount equal to the aggregate of the reductions.
RCW 30A.36.010 — Washington Code / Title 30A / Chapter 36 / Section 010
RCW 30A.36.010: Definitions.
Status: in_force

Capital notes or debentures, where used in this chapter, shall mean notes or other obligations issued by a bank or mutual savings bank, for money obtained and used as additional capital or to replace impaired capital stock: PROVIDED, Such notes or other obligations are subordinate to the rights of depositors and other creditors. The term "capital" where used in this chapter shall mean capital stock and/or capital notes.
RCW 30B.10.050 — Washington Code / Title 30B / Chapter 10 / Section 050
RCW 30B.10.050: Duties of persons subject to authority of director—Violations.
Status: in_force

(1) Each person subject to the requirement of a certificate of authority or approval from the director pursuant to RCW 30B.04.050 , and any director, officer, manager, employee, or agent of such person, shall not engage in any unauthorized trust activity and shall comply with: (a) This title and Title 11 RCW; (b) The rules adopted by the director pertaining to this title and compliance with Title 11 RCW; (c) Any condition in the department's certificate of authority of a state trust company or in the department's approval of an out-of- state trust company doing business in Washington state including, without limitation, any condition of certificate of authority or approval made pursuant to RCW 30B.10.040 (3); (d) Any lawful order of the director; (e) Any lawful supervisory agreement with the director or supervisory directive of the director; and (f) All applicable federal laws and regulations affecting trust institutions subject to the authority of the director. (2) Each affiliate of a person subject to the authority of the director under this title, and any director, officer, manager, employee, or agent of such affiliate, shall not engage in any unauthorized trust activity and shall comply with: (a) The provisions of this title and Title 11 RCW, to the extent that any act or omission of the affiliate, or a director, officer, manager, employee, or agent of such affiliate, affects the safety and soundness and compliance with the law of a person subject to the authority of this title; (b) The rules adopted by the director with respect to such affiliate; (c) Any lawful order of the director; (d) Any lawful supervisory agreement with the director or supervisory directive of the director; and (e) All applicable federal laws and regulations affecting a trust institution or its affiliate subject to the authority of the director. (3) The violation of any supervisory agreement, supervisory directive, 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.08.030 — Washington Code / Title 30A / Chapter 08 / Section 030
RCW 30A.08.030: Investigation.
Status: in_force

When the notice of intention to organize and proposed articles of incorporation complying with the foregoing requirements have been received by the director, together with the fees required by law, the director shall ascertain from the best source of information at his or her command and by such investigation as he or she may deem necessary, whether the character, responsibility and general fitness of the persons named in such articles are such as to command confidence and warrant belief that the business of the proposed bank will be honestly and efficiently conducted in accordance with the intent and purpose of this title, whether the resources in the neighborhood of such place and in the surrounding country afford a reasonable promise of adequate support for the proposed bank and whether the proposed bank is being formed for other than the legitimate objects covered by this title.
RCW 30A.49.100 — Washington Code / Title 30A / Chapter 49 / Section 100
RCW 30A.49.100: Provision for successors to fiduciary positions.
Status: in_force

Where a resulting state bank is not to exercise trust powers, the director shall not approve a merger or conversion until satisfied that adequate provision has been made for successors to fiduciary positions held by the merging state or national banks or the converting state or national bank.
RCW 30A.56.060 — Washington Code / Title 30A / Chapter 56 / Section 060
RCW 30A.56.060: Approval of plan—Unsecured claims.
Status: in_force

If, within ninety days after the filing of the plan, creditors having unsecured demands against the bank aggregating not less than three-fourths of the amount of the unsecured demands of all its creditors, approved the plan, the director shall have power to declare the plan to be in effect. Thereupon the unsecured demands of creditors shall be ratably reduced according to the plan and appropriate debits shall be made in the books. The right of a secured creditor to enforce his or her security shall not be affected by the operation of the plan, but the amount of any deficiency to which he or she may be entitled shall be reduced as unsecured demands were reduced. If the plan contemplates a temporary postponement of payments, RCW 30A.56.020 , 30A.56.030 , and 30A.56.040 shall be applicable, and the bank shall comply therewith and conduct its affairs accordingly.
RCW 30B.44A.010 — Washington Code / Title 30B / Chapter 44A / Section 010
RCW 30B.44A.010: Corporate procedure.
Status: in_force

(1) Shareholder action to liquidate a state trust company shall be taken at a meeting of the shareholders duly called and noticed as provided for in Title 23B RCW, if the state trust company is a corporation, and as provided in chapter 25.15 RCW, if the state trust company is a limited liability company. (2) If the shareholders shall, by the required vote, elect to liquidate the state trust company, a copy of all proceedings of the meeting at which such action shall have been taken, verified by the oath of the president or manager and the secretary, shall be transmitted to the director for approval.
RCW 30A.44.090 — Washington Code / Title 30A / Chapter 44 / Section 090
RCW 30A.44.090: Dividends.
Status: in_force

At any time after the expiration of the date fixed for the presentation of claims, the director, subject to the approval of the court, may declare one or more dividends out of the funds remaining in his or her hands after the payment of expenses.
RCW 30A.22.240 — Washington Code / Title 30A / Chapter 22 / Section 240
RCW 30A.22.240: Records—Disclosure—Requests by law enforcement—Fees.
Status: in_force

(1) If a financial institution discloses information in good faith concerning its customer or customers in accordance with this section, it shall not be liable to its customers or others for such disclosure or its consequences. Good faith will be presumed if the financial institution follows the procedures set forth in this section. (2) A request for financial records made by a law enforcement officer shall be submitted to the financial institution in writing stating that the officer is conducting a criminal investigation of actual or attempted withdrawals from an account at the institution and that the officer reasonably believes a statutory notice of dishonor has been given pursuant to RCW 62A.3-515 , fifteen days have elapsed, and the item remains unpaid. The request shall include the name and number of the account and be accompanied by a copy of: (a) The front and back of at least one unpaid check or draft drawn on the account that has been presented for payment no fewer than two times or has been drawn on a closed account; and (b) A statement of the dates or time period relevant to the investigation. (3) To the extent permitted by federal law, under subsection (2) of this section a financial institution shall within a reasonable time disclose to a requesting law enforcement officer so much of the following information as has been requested concerning the account upon which the dishonored check or draft was drawn, to the extent the records can be located: (a) The date the account was opened; the details and amount of the opening deposit to the account; and if closed, the reason the account was closed, the date the account was closed, and balance at date of closing; (b) A copy of the statements of the account for the relevant period including dates under investigation and the preceding and following thirty days and the closing statement, if the account was closed; (c) A copy of the front and back of the signature card; and (d) If the account was closed by the financial institution, the name of the person notified of its closing and a copy of the notice of the account's closing and whether such notice was returned undelivered. (4) Financial institutions may charge requesting parties a reasonable fee for the actual costs of providing services under this chapter. These fees may not exceed rates charged to federal agencies for similar requests. In the event an investigation results in conviction, the court may order the defendant to pay costs incurred by law enforcement under chapter 186, Laws of 1995.
RCW 30A.42.130 — Washington Code / Title 30A / Chapter 42 / Section 130
RCW 30A.42.130: Taking possession by director—Reasons—Disposition of deposits—Claims—Priorities.
Status: in_force

The director may take possession of the office of an alien bank for the reasons stated and in the manner provided in chapter 30A.44 RCW. Upon the director taking such possession of a branch, no deposit liabilities of which are insured by the federal deposit insurance corporation, the amounts deposited pursuant to RCW 30A.42.120 (1) shall thereupon become the property of the director, free and clear of any and all liens and other claims, and shall be held by the director in trust for the United States domiciled depositors of the office in this state of such alien bank. Upon obtaining the approval of the superior court of Thurston county, the director shall reduce such deposited capital to cash and as soon as practicable distribute it to such depositors. If sufficient cash is available, such distribution shall be in equal amounts to each such depositor: PROVIDED, That no such depositor receives more than the amount of his or her deposit or an amount equal to the maximum amount insured by the federal deposit insurance corporation, whichever is less. If sufficient cash is not available, such distribution shall be on a pro rata basis to each such depositor: PROVIDED, That no such depositor receives more than the maximum amount insured by the federal deposit insurance corporation. If any cash remains after such distribution, it shall be distributed pro rata to those depositors whose deposits have not been paid in full: PROVIDED, That no depositor receives more than the amount of his deposit. For purposes of this section, the term "depositor" shall not include any other offices, subsidiaries or affiliates of such alien bank. The term "deposit" as used in this section shall mean the unpaid balance of money or its equivalent received or held by the branch in the usual course of its business and for which it has given or is obligated to give credit, either conditionally or unconditionally to a demand, time or savings account, or which is evidenced by its certificate of deposit, or a check or draft drawn against a deposit account and certified by the branch, or a letter of credit or traveler's checks on which the branch is primarily liable. Claims of depositors and creditors shall be made and disposed of in the manner provided in chapter 30A.44 RCW in the event of insolvency or inability of the bank to pay its creditors in this state. The capital deposit of the bank shall be available for claims of depositors and creditors. The claims of depositors and creditors shall be paid from the capital deposit in the following order or priority: (1) Claims of depositors not paid from the amounts deposited pursuant to RCW 30A.42.120 (1); (2) Claims of Washington domiciled creditors; (3) Other creditors domiciled in the United States; and (4) Creditors domiciled in foreign countries. The director shall proceed in accordance with and have all the powers granted by chapter 30A.44 RCW.
RCW 30B.44B.050 — Washington Code / Title 30B / Chapter 44B / Section 050
RCW 30B.44B.050: Powers and duties of director—Prohibition against liens.
Status: in_force

(1) Upon issuance of an order taking possession of a state trust company pursuant to RCW 30B.44B.005 or 30B.44B.010 , the director must: (a) Take custody of the assets of the state trust company and preserve, administer, and liquidate the business and assets of the state trust company as statutory liquidation agent; (b) Furnish written notice: (i) To all persons having possession of any assets of the state trust company; and (ii) To beneficiaries, trustors, if alive, and appointed advisers in relation to trust assets that were under management by the state trust company as of the date and time that the director took possession of the state trust company, to the extent that the state trust company has not given prior notice to such beneficiaries or trustors, if alive, pursuant to RCW 11.98.039 , or to such appointed advisers; (c) Make provision as custodian under authority of this chapter for the preservation of the trust or other fiduciary assets of the state trust company while they are in the department's custody; and (d) Upon notice from a trustor or beneficiary, or the like, of a trust agreement or other fiduciary contract directing the department to transfer the trust or other fiduciary assets of the state trust company, or as otherwise provided for by the terms of a trust agreement or other fiduciary contract, by Title 11 RCW, or by court order, make provision as custodian under this chapter for the transfer of trust or other fiduciary assets from the department's custody to applicable third parties. (2) No person knowing of the taking of such possession by the director shall have a lien or charge for any payment advanced or cleared or liability incurred against any of the assets of the state trust company or any trust assets under management. (3) With the approval of the superior court of the county in which the headquarters of the state trust company was located, the director may sell, compound, or compromise bad or doubtful debts, and upon such terms as the court shall direct, the director may borrow, mortgage, pledge, or sell all or any part of the real estate and personal property of the state trust company. The director 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 the county where the headquarters of the state trust company was located, a certified copy of the orders authorizing and confirming the sale or mortgage shall be filed for record in the county in which such property is situated. (4) The director may appoint special assistants and other necessary agents to assist in the administration and liquidation of the state trust company, a certificate of such appointment to be filed with the clerk of the county where the headquarters of the state trust company was located. (5) Except for a special assistant who is an employee of the department, the director shall require such special assistant or agent to give a surety company bond, conditioned as the director shall provide, the premium of which shall be paid out of the assets of the state trust company. (6) The director may also request legal assistance from the Washington attorney general in such administration and liquidation; provided, however, that with permission of the Washington attorney general, the director may employ an attorney in private practice to perform such delegated functions.
RCW 30B.08.005 — Washington Code / Title 30B / Chapter 08 / Section 005
RCW 30B.08.005: Who may organize a state trust company.
Status: in_force

Subject to the other provisions of this chapter, one or more persons may organize a state trust company.
RCW 30A.04.280 — Washington Code / Title 30A / Chapter 04 / Section 280
RCW 30A.04.280: Compliance enjoined—Banking, trust business, branches—Director's authority—Rules.
Status: in_force

(1)(a) No person shall engage in banking except in compliance with and subject to the provisions of this title, unless it is a national bank or except insofar as it may be authorized so to do by the laws of this state relating to savings banks or savings and loan associations. (b) A person shall not engage in a trust business except in compliance with and subject to the provisions of this title. This subsection (1)(b) does not apply to: (i) An individual, sole proprietor, general partnership, or joint venture composed of individuals; (ii) a person conducting business as an attorney-at-law or law firm; or (iii) a court-appointed guardian, conservator, trustee, or receiver. (c) A bank shall not engage in a trust business except as authorized under this title. (d) A bank or trust company shall not establish any branch except in accordance with the provisions of this title. (e) Except as authorized by federal law or by another law of this state, a nondepositary trust company incorporated under the laws of another state shall not be permitted to engage in a trust business in this state on more favorable terms and conditions than the terms and conditions on which trust companies incorporated under this chapter and savings banks engaged in trust business under RCW 32.08.140 , 32.08.142 , 32.08.210 , and 32.08.215 are permitted to engage in trust business in such other state. (2) Notwithstanding any other provision of this section, the director may by rule or order prohibit any person from engaging in a trust business in this state contrary to the requirements of this title if the conduct of the trust business in this state by such person harms or is likely to harm the general public, or if it adversely affects the business of trust companies operating in this state. The director may issue a temporary cease and desist order against such person in the manner provided for in *RCW 30.04.455 if the general public or trust companies are likely to be substantially injured by delay in issuing a cease and desist order. An order or rule made by the director pursuant to this subsection may require that any applicable person obtain a trust company charter under this title as a condition of continuing to engage in a trust business in this state, subject to meeting all qualifications for grant of a trust company charter under this title. This subsection does not apply to a person conducting business as an attorney-at-law or law firm or to a court-appointed guardian, conservator, trustee, or receiver.
RCW 30A.08.083 — Washington Code / Title 30A / Chapter 08 / Section 083
RCW 30A.08.083: Authority to divide classes into series—Rights and preferences—Filing of statement.
Status: in_force

(1) If the articles of incorporation shall expressly vest authority in the board of directors, then, to the extent that the articles of incorporation shall not have established series, and fixed and determined the variations in the relative rights and preferences as between series, the board of directors have authority to divide any or all of the classes into series and, within the limitation set forth in this section and in the articles of incorporation, fix and determine the relative rights and preferences of the shares of any series so established. (2) In order for the board of directors to establish a series, where authority to do so is contained in the articles of incorporation, the board of directors shall adopt a resolution setting forth the designation of the series and fixing and determining the relative rights and preferences thereof, or so much thereof as is not fixed and determined by the articles of incorporation. (3) Prior to the issue of any shares of a series established by resolution adopted by the board of directors, the corporation shall file and execute in the manner provided in this section a statement setting forth: (a) The name of the bank; (b) A copy of the resolution establishing and designating the series, and fixing and determining the relative rights and preferences thereof; (c) The date of adoption of such resolution; and (d) That the resolution was duly adopted by the board of directors. (4) The statement shall be executed in triplicate by the bank by one of its officers and shall be delivered to the director. If the director finds that the statement conforms to law, the director shall, when all fees have been paid as provided in this title: (a) Endorse on each of the triplicate originals the word "Filed," and the effective date of the filing thereof; (b) File two of the originals; and (c) Return the other original to the bank or its representative. (5) Upon the filing of the statement by the director with the secretary of state, the resolution establishing and designating the series and fixing and determining the relative rights and preferences thereof shall become effective and shall constitute an amendment of the articles of incorporation.
RCW 30A.42.220 — Washington Code / Title 30A / Chapter 42 / Section 220
RCW 30A.42.220: Bureaus—Approval—Certificate of authority—Time limit 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 and with the recording officer of the county in which the bureau is to be located. Upon such filing, the director shall issue a certificate of authority stating that the alien bank is authorized to operate a bureau in this state at the place designated in accordance with this chapter. No such certificate shall be transferable or assignable. Such certificate shall be conspicuously displayed at all times in the place of business specified therein. A bureau of an 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 30B.64.020 — Washington Code / Title 30B / Chapter 64 / Section 020
RCW 30B.64.020: Conversion to public trust company.
Status: in_force

A private trust or private trust company which seeks to convert to one transacting business with the general public in this state must apply for and obtain a certificate of authority as a state trust company under chapter 30B.08 RCW or a federal charter or charter from another state which would permit it to conduct trust business and fiduciary activities in this state without engaging in unauthorized trust activity.
RCW 30A.04.120 — Washington Code / Title 30A / Chapter 04 / Section 120
RCW 30A.04.120: Loans on own stock prohibited—Shares of other corporations.
Status: in_force

The shares of stock of every bank shall be deemed personal property. No such corporation shall hereafter make any loan or discount on the security of its own capital stock, nor be the purchaser or holder of any such shares, unless such security or purchase shall be necessary to prevent loss upon a debt previously contracted in good faith; in which case the stocks so purchased or acquired shall be sold at public or private sale, or otherwise disposed of, within six months from the time of its purchase or acquisition. Except as hereinafter provided or otherwise permitted by law, nothing herein contained shall authorize the purchase by any such bank for its own account of any shares of stock of any corporation, except a federal reserve bank of which such corporation shall become a member, and then only to the extent required by such federal reserve bank: PROVIDED, That any bank may purchase, acquire and hold shares of stock in any other corporation which shares have been previously pledged as security to any loan or discount made in good faith and such purchase shall be necessary to prevent loss upon a debt previously contracted in good faith and stock so purchased or acquired shall be sold at public or private sale or otherwise disposed of within two years from the time of its purchase or acquisition. Any time limit imposed in this section may be extended by the director upon cause shown. Banks are authorized to make loans on the security of the capital stock of a bank other than the lending corporation.
RCW 30B.10.040 — Washington Code / Title 30B / Chapter 10 / Section 040
RCW 30B.10.040: Examination standards for state trust companies—Rule making—Special conditions.
Status: in_force

(1) The director is authorized to adopt rules governing the examination standards for a state trust company, trust department, third-party service provider, and other persons subject to investigation and examination under this title, including the application by rule of examination standards of other federal and state financial institutions regulators and standards adopted from cooperative agreements made by the director under RCW 30B.38.060 . (2) Subject to subsection (3) of this section, such rules shall not be inconsistent with the uniform interagency trust rating system, or its equivalent, of the federal financial institutions examination council or its successor agency; and subject to subsection (3) of this section, the director shall apply the standards of the uniform interagency trust rating system, or its equivalent, in its examination and rating of state trust companies and other persons subject to investigation and examination under this title to the extent that the department has not adopted applicable rules. (3) Notwithstanding subsection (2) of this section, the director may, in lieu of or in addition to applicable rules, prescribe special conditions for a new state trust company or an out-of-state trust company doing business in Washington state, to the extent that such special conditions contain standards of examination and rating for the state trust company or out-of-state trust company that the director deems necessary to address circumstances including, without limitation, an emerging business model, which do not appear to the director to be contemplated or adequately addressed by the uniform interagency trust rating system, or its equivalent, of the federal financial institutions examination council or its successor agency.
RCW 30A.08.150 — Washington Code / Title 30A / Chapter 08 / Section 150
RCW 30A.08.150: Banks engaged in trust business.
Status: in_force

(1) Upon the issuance of a certificate of authority to a bank, the persons named in the articles of incorporation and their successors shall have the power to engage in trust business and other business the same as a state trust company as set forth in *RCW 30B.08.080 (1) (b) through (q). (2) Notwithstanding the powers of a trust business set forth in *RCW 30B.08.080 (1) (b) through (k) and as the director may designate by rule pursuant to *RCW 30B.08.080 (1)(q), a bank shall notify the director prior to commencing trust business, and comply with additional preconditions as may be required by the board of governors of the federal reserve system, the federal deposit insurance corporation, or by rule adopted by the director. (3) A bank under this title is deemed to be a trust company for purposes of authorization to be a personal representative under RCW 11.36.010 .