RCW 30A.42.340 — Washington Code / Title 30A / Chapter 42 / Section 340
RCW 30A.42.340: Alien banks or branches in business on or before effective date.
Status: in_force

(1) Any branch of an alien bank that is conducting business in this state on July 16, 1973 pursuant to RCW 30A.04.300 shall not be subject to the provisions of this chapter, and shall continue to conduct its business pursuant to RCW 30A.04.300 . (2) Except as provided in subsection (1) of this section, any alien bank that is conducting business in this state on July 16, 1973 shall be subject to the provisions of this chapter: PROVIDED, That any such alien bank which has operated an agency or similar operation in this state for at least the five years immediately preceding such effective date shall not be denied a certificate to operate an agency.
RCW 30A.16.010 — Washington Code / Title 30A / Chapter 16 / Section 010
RCW 30A.16.010: Certification—Effect—Penalty.
Status: in_force

No director, officer, agent or employee of any bank shall certify a check unless the amount thereof actually stands to the credit of the drawer on the books of such corporation and when certified must be charged to the account of the drawer. Every violation of this provision shall be a gross misdemeanor. Any such check so certified by a duly authorized person shall be a good and valid obligation of the bank in the hands of an innocent holder.
RCW 30A.49.060 — Washington Code / Title 30A / Chapter 49 / Section 060
RCW 30A.49.060: Merger to resulting state bank—Effective date—Termination of charters—Certificate of merger.
Status: in_force

A merger which is to result in a state bank 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 stockholders of each merging state or national bank approving it, certified by the bank's president or a vice president and a secretary. The charters of the merging banks, other than the resulting bank, shall thereupon automatically terminate. The director shall thereupon issue to the resulting state bank a certificate of merger specifying the name of each merging state or national bank and the name of the resulting state bank. Such certificate shall be conclusive evidence of the merger and of the correctness of all proceedings therefor 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 state or national bank is held.
RCW 30A.32.030 — Washington Code / Title 30A / Chapter 32 / Section 030
RCW 30A.32.030: May borrow from home loan bank.
Status: in_force

Any such bank, insurance company, or association, may borrow from any home loan bank and as security for borrowing may pledge therewith the notes, mortgages, trust deeds which it holds as shall be required by federal law, and under such rules and regulations as shall be adopted by a federal home loan bank.
RCW 30B.53.030 — Washington Code / Title 30B / Chapter 53 / Section 030
RCW 30B.53.030: Approval by shareholders—Voting—Notice.
Status: in_force

(1) To be effective, a merger that is to result in a trust company must be approved by the shareholders of each merging trust company by a vote of two-thirds of the outstanding voting shares of each class at a meeting called to consider such action. This vote shall constitute the adoption of the charter and bylaws of the resulting trust company, including the amendments in the merger agreement. (2) Unless waived in writing, notice of the meeting of shareholders shall be given by publication in a newspaper of general circulation in the place where the principal office of each merging trust company 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 shareholder of record of each merging trust company at the address on the books of the shareholder's trust company. 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 shares. 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 30B.20.005 — Washington Code / Title 30B / Chapter 20 / Section 005
RCW 30B.20.005: General prohibition on deposit taking.
Status: in_force

Except as authorized by this chapter or other governing law, a trust company may not take or hold deposits of funds in this state unless: (1) It is authorized to do business in this state as a depository institution; and (2) Complies with all applicable federal and state laws and regulations respecting the taking and handling of monetary deposits.
RCW 30B.38.050 — Washington Code / Title 30B / Chapter 38 / Section 050
RCW 30B.38.050: Additional trust offices.
Status: in_force

An out-of-state trust institution that maintains a trust office in this state under this chapter may establish or acquire additional trust offices in this state to the same extent that a state trust company may establish or acquire additional offices in this state.
RCW 30B.04.005 — Washington Code / Title 30B / Chapter 04 / Section 005
RCW 30B.04.005: Definitions.
Status: in_force

Unless the context clearly requires otherwise, the definitions in this section apply throughout this title. The definitions in this section shall be liberally construed to accomplish the purposes of this title. Additional definitions, as applicable, are contained elsewhere in this title. The department may adopt by rule other definitions to accomplish the purposes of this title. (1) "Account" means the client relationship established with a trust company involving the transfer of funds or property to the trust company, including a relationship in which the trust company acts as trustee, executor, administrator, guardian, custodian, conservator, bailee, receiver, registrar, or agent, but excluding a relationship in which the trust company acts solely in an advisory capacity. (2) "Administer" with respect to real or tangible personal property means, as an agent or in another representative capacity, to possess, purchase, sell, lease, insure, safekeep, or otherwise manage the property. (3) "Affiliate" means a company that controls, is controlled by, or is under common control with a trust institution. (4) "Agent" has the same meaning as an agent at common law. (5) "Authorized trust institution" means a trust institution with authority to engage in trust business in Washington state pursuant to federal or state law. (6) "Bank" has the meaning set forth in 12 U.S.C. Sec. 1813(h); provided that the term "bank" does not include any "foreign bank" as defined in 12 U.S.C. Sec. 3101(7), except for any such foreign bank organized under the laws of a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, the deposits of which are insured by the federal deposit insurance corporation. (7) "Bank supervisory agency" means: (a) Any agency of another state with primary responsibility for chartering and supervising a trust institution; and (b) The office of the comptroller of the currency, the federal deposit insurance corporation, the board of governors of the federal reserve system, and any successor to these agencies. (8) "Capital" has the meaning ascribed to that term by generally accepted accounting principles and applicable rules of the financial accounting standards board, and includes surplus and undivided profits. (9) "Charter," "chartered," and "chartering" mean a charter or other certificate of authority issued by a financial services supervisory agency of an applicable governmental entity authorizing a trust institution to engage in business in its home state or other jurisdiction, or the act of granting or having had granted such a charter. (10) "Client" means a person to whom a trust institution owes a duty or obligation under a trust or other account administered by the trust institution or as an advisor or agent, regardless of whether the trust institution owes a fiduciary duty to the person. The term includes the noncontingent beneficiaries of an account. (11) "Company" includes a bank, trust company, corporation, limited liability company, partnership, association, business trust, or another trust. (12) "Conservator" means the director or an agent of the director exercising the powers and duties provided in RCW 30B.46.060 . (13) "Control," "controls," "controlled," and "controlling," except as defined in RCW 30B.53.005 and as used in RCW 30B.04.040 (12), 30B.08.030 , 30B.12.020 (1) and (2), and 30B.38.080 (1), mean and refer to: (a) The ownership of or ability or power to vote, directly, acting through one or more other persons, or otherwise indirectly, more than fifty percent 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 more than fifty percent of the outstanding shares or participation shares of a class of voting securities of a state trust company or other company on the transfer of more than fifty percent of the outstanding shares of a class of voting securities of another state trust company or other company. (14) "Custodial account" means an account, established by a person with a bank as defined in 26 U.S.C. Sec. 408(n), or with another person approved by the internal revenue service as satisfying the requirements to be a nonbank trustee or a nonbank passive trustee set forth in United States treasury regulations under 26 U.S.C. Sec. 408, that is governed by an instrument concerning the establishment or maintenance, or both, of an individual retirement account, qualified retirement plan, Archer medical savings account, health savings account, Coverdell education savings account, any similar retirement or savings vehicle permitted under the internal revenue code of 1986, or as otherwise defined by the director by rule. (15) "Department" means the Washington state department of financial institutions. (16) "Depository institution" means any company chartered to act as a fiduciary and included for any purpose within any of the definitions of "insured depository institution" as set forth in 12 U.S.C. Sec. 1813(c)(2) and (3). (17) "Director" means the director of the Washington state department of financial institutions. (18) "Federal trust institution" means a special purpose national banking association authorized by the office of the comptroller of the currency, pursuant to the national bank act, 12 U.S.C. Sec. 92a, whose charter is granted for the purpose of it engaging primarily or solely in trust or other fiduciary activities. (19) "Fiduciary record" means a matter written, transcribed, recorded, received, or otherwise in the possession or control of a trust company, whether in physical or electronic form, that is necessary to preserve information concerning an act or event relevant to an account or a client of a trust company. (20) "Foreign bank" means a foreign bank, as defined in section 1(b)(7) of the international banking act of 1978, chartered to act as a fiduciary in a state other than Washington state. As used in this title, "foreign bank" excludes an alien bank authorized to do business in Washington state under chapter 30A.42 RCW. (21) "Home state" means: (a) With respect to a federally chartered trust institution and a foreign bank, the state in which such institution maintains its principal office; and (b) With respect to any other trust institution, the state which chartered such institution. (22) "Home state regulator" means the trust institutions supervisory agency with primary responsibility for chartering and supervising an out-of-state trust institution. (23) "Host state" means a state, other than the home state of a trust institution, or a foreign country in which the trust institution maintains or seeks to acquire or establish an office. (24) "Insolvent" means a circumstance or condition in which a state trust company: (a) Has actual cash market value of its assets which are insufficient to pay its liabilities to its creditors; (b) Is unable or lacks the means to meet its current obligations as they come due in the regular and ordinary course of business, even if the value of its assets exceeds its liabilities; (c) Sells or attempts to sell substantially all of its assets other than as provided in RCW 30B.44A.050 or merges or attempts to merge substantially all of its assets or business with another entity other than as provided by chapter 30B.53 RCW; or (d) Attempts to dissolve or liquidate without approval of the director under chapter 30B.44A RCW; (e) After demand in writing by the director, fails to cure any deficiency in its reserves as required by statute or rule; (f) After written demand by the director, the stockholders fail to cure within the time prescribed by the director an impairment of the state trust company's capital or surplus; or (g) Is insolvent within the meaning of the United States bankruptcy code. (25) "Instrument" means a revocable or irrevocable trust document created inter vivos or testamentary or any custodial account agreement. (26) "Internet trust business" means a trust business that holds itself out as a trustee or fiduciary to the general public of Washington state by means of the internet or other electronic means. (27) "Law firm" means a professional service corporation, professional limited liability company, or limited liability partnership, that is duly organized under the laws of Washington state and whose shareholders, members, or partners, respectively, are exclusively attorneys. (28) "Limited liability trust company" means an entity organized or reorganized under the provisions of RCW 30B.08.020 to operate as a state trust company in limited liability company form pursuant to the authority of the director under chapter 30B.08 RCW. (29) "Loans and extensions of credit" means direct or indirect advances of funds by a state trust company to a person that are conditioned on the obligation of the person to repay the funds or that are repayable from specific property pledged by or on behalf of the person. (30) "Manager" means a person elected to the board of a limited liability trust company. (31) "Officer" means the presiding officer of the board, the principal executive officer, or another officer appointed by the board of a state trust company or other company, or a person or group of persons acting in a comparable capacity for the state trust company or other company. (32) "Out-of-state trust institution" means a trust institution that is not a state trust company under this title. (33) "Person" means an individual, a company, or any other legal entity. (34) "Principal shareholder" means a person who owns or has the ability or power to vote, directly, acting through one or more other persons, or otherwise indirectly, ten percent or more of the outstanding shares or participation shares of any class of voting securities of a state trust company or other company. (35) "Private trust" has the meaning set forth in RCW 30B.64.005 . (36) "Private trust company" has the meaning set forth in RCW 30B.64.005 . (37) "Share" means a unit into which a proprietary interest of a trust institution is divided or subdivided by means of class, series, relative rights, or preferences, and includes beneficial interests in a state trust company organized as a corporation or limited liability company. (38) "Shareholder" means the holder of a share as defined in this section. (39) "State" means a state of the United States, the District of Columbia, a territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands. (40) "State bank" means a bank authorized under Title 30A or 32 RCW to engage in trust business or an alien bank chartered or authorized under chapter 30A.42 RCW to exercise trust powers in Washington state. (41) "State trust company" means a corporation or a limited liability company organized or reorganized under this title, including a trust company organized under the laws of Washington state before January 5, 2015. (42) "State trust institution," as used in chapter 30B.10 RCW, means a state trust company or an out-of-state trust institution engaged in trust business in Washington state. (43) "Third-party service provider" includes an independent contractor or other person, which a trust institution has engaged to perform services to facilitate the conduct of its business as a trust institution or affiliate, to perform the following functions: (a) Noninternet-based data storage; (b) Internet-related services, mobile applications, system and software development and maintenance, and security architecture, maintenance, and monitoring; (c) Data processing services; (d) Fiduciary activities or other contracted-for services constituting "trust business" under RCW 30B.04.005 ; (e) Activities related to the trading of securities, derivatives, and other commodities; (f) Bookkeeping, accounting, or similar functions; or (g) Data analytics with respect to customers or prospective customers, or use of algorithmic technology by the trust institution in the conduct of fiduciary management. (44) "Trust business" means the performance of, or holding out by, a person to the public by advertisement, solicitation, or other means that the person is available to perform one or more of the essential functions of trust business set forth in RCW 30B.08.080 (1). (45) "Trust company" means a state trust company or any other company chartered to act as a fiduciary that is neither a depository institution nor a foreign bank. (46) "Trust department" means a division, subdivision, department, or group of officers and employees of a state bank authorized by the board of directors of the state bank to exercise trust powers pursuant to authority of the director granted pursuant to RCW 30A.08.150 or 32.08.210 , as applicable. (47) "Trust deposits" means the client funds held by a state trust company and authorized to be deposited with itself pending investment, distribution, or payment of debts on behalf of the client. (48) "Trust institution" means a depository institution or foreign bank engaged in trust business, or a trust company. (49) "Unauthorized trust activity" means to engage in trust business in Washington state without authority or exemption under this title.
RCW 30A.08.082 — Washington Code / Title 30A / Chapter 08 / Section 082
RCW 30A.08.082: Authority to issue preferred or special classes of stock.
Status: in_force

(1) Notwithstanding any other provisions of law and if so authorized by its articles of incorporation or amendments thereto made in the manner provided in the case of a capital increase, any bank may, pursuant to action taken by its board of directors from time to time with the approval of the director, issue shares of preferred or special classes of stock with the attributes and in such amounts and with such par value, if any, as shall be determined by the board of directors from time to time with the approval of the director. No increase of preferred stock shall be valid until the amount thereof shall have been subscribed and actually paid in. (2) If provided in its articles of incorporation, a bank may issue shares of preferred or special classes having any one or several of the following provisions: (a) Subjecting the shares to the right of the bank to repurchase or retire any such shares at the price fixed by the articles of incorporation for the repurchase or retirement thereof; (b) Entitling the holders thereof to cumulative, noncumulative, or partially cumulative dividends; (c) Having preference over any other class or classes of shares as to the payment of dividends; (d) Having preference in the assets of the bank over any other class or classes of shares upon the voluntary or involuntary liquidation of the bank; (e) Having voting or nonvoting rights; and (f) Being convertible into shares of any other class or into shares of any series of the same or any other class, except a class having prior or superior rights and preferences as to dividends or distribution of assets upon liquidation.
RCW 30A.04.129 — Washington Code / Title 30A / Chapter 04 / Section 129
RCW 30A.04.129: Investment in obligations issued or guaranteed by multilateral development bank.
Status: in_force

Any bank may invest in obligations issued or guaranteed by any multilateral development bank in which the United States government formally participates. Such investment in any one multilateral development bank shall not exceed five percent of the bank's paid-in capital and surplus.
RCW 30A.38.070 — Washington Code / Title 30A / Chapter 38 / Section 070
RCW 30A.38.070: Out-of-state state bank becomes resulting bank—Branches in this state—RCW 30A.49.125(5) does not apply—When established and maintained—Notice to director.
Status: in_force

(1) Any out-of-state state bank that will be the resulting bank pursuant to an interstate combination involving any bank with branches in Washington, if RCW 30A.49.125 (5) does not apply, shall notify the director of the proposed combination not later than three days after the date of filing of an application for the combination with the responsible federal bank supervisory agency, and shall submit a copy of the application to the director and pay applicable application fees, if any, required by the director. In lieu of notice from the out-of-state state bank the director may accept notice from the bank's home state regulator. The director has the authority to waive any procedures required by Washington merger laws if the director finds that the provision is in conflict with the applicable federal law or in conflict with the applicable law of the state of the resulting bank. (2) An out-of-state state bank that has established and maintains a branch in this state pursuant to this chapter shall give at least thirty days' prior written notice or, in the case of an emergency transaction, shorter notice as is consistent with the applicable state or federal law, to the director of any transaction that would cause a change of control with respect to the bank or any bank holding company that controls the bank, with the result that an application would be required to be filed pursuant to the federal change in bank control act of 1978, as amended, 12 U.S.C. Sec. 1817(j), or the federal bank holding company act of 1956, as amended, 12 U.S.C. Sec. 1841 et seq., or any successor statutes. In lieu of notice from the out-of-state state bank the director may accept notice from the bank's home state regulator.
RCW 30B.44B.130 — Washington Code / Title 30B / Chapter 44B / Section 130
RCW 30B.44B.130: Liquidation after claims are paid.
Status: in_force

When all proper claims of creditors, excluding shareholders, have been paid, as well as all expenses of administration and liquidation, and proper provision has been made for unclaimed or unpaid property and dividends, and assets still remain in the director's possession, the director shall furnish written notice to all shareholders of record of the state trust company, as of the date and time the director took possession of the state trust company pursuant to RCW 30B.44B.005 or 30B.44B.010 , of the existence of any remaining funds according to each shareholder's proportional beneficial interest in the state trust company.
RCW 30A.42.070 — Washington Code / Title 30A / Chapter 42 / Section 070
RCW 30A.42.070: Allocated paid-in capital—Requirements.
Status: in_force

The capital allocated as required in RCW 30A.42.060 (3) shall be maintained within this state at all times in cash or in director approved interest bearing bonds, notes, debentures, or other obligations: (1) Of the United States or of any agency or instrumentality thereof, or guaranteed by the United States; or (2) of this state, or of a city, county, town, or other municipal corporation, or instrumentality of this state or guaranteed by this state, or such other assets as the director may approve. Such capital shall be deposited with a bank qualified to do business in and having its principal place of business within this state, or in a national bank qualified to engage in banking in this state. Such bank shall issue a written receipt addressed and delivered to the director reciting that such deposit is being held for the sole benefit of the United States domiciled creditors of such alien bank's Washington office and that the same is subject to his or her order without offset for the payment of such creditors. For the purposes of this section, the term "creditor" shall not include any other offices, branches, subsidiaries, or affiliates of such alien bank. Subject to the approval of the director, reasonable arrangements may be made for substitution of securities. So long as it shall continue business in this state in conformance with this chapter and shall remain solvent, such alien bank shall be permitted to collect all interest and/or income from the assets constituting such allocated capital. Should any securities so depreciate in market value and/or quality as to reduce the deposit below the amount required, additional money or securities shall be deposited promptly in amounts sufficient to meet such requirements. The director may make an investigation of the market value and of the quality of any security deposited at the time such security is presented for deposit or at any time thereafter. The director may make such charge as may be reasonable and proper for such investigation.
RCW 31.04.405 — Washington Code / Title 30A / Chapter 04 / Section 405
RCW 31.04.405: Requirements for a student education loan servicer—Borrower request for information—Transfer of service rights—Records—Rules—Director's obligations.
Status: in_force

(1) In addition to complying with any applicable federal program requirements, a student education loan servicer must comply with the following requirements: (a) Any fee that is assessed by a servicer must be assessed within forty-five days of the date on which the fee was incurred and must be explained clearly and conspicuously in a statement mailed to the borrower at the borrower's last known address no more than thirty days after assessing the fee, or provided via email if the borrower has assented to receive electronic communications; (b) All amounts received by a servicer on a student education loan at the address where the borrower has been instructed to make payments must be accepted and credited, or treated as credited, within one business day of the date received, provided that the borrower has provided sufficient information to credit the account. If a servicer uses the scheduled method of accounting, any regularly scheduled payment made prior to the scheduled due date must be credited no later than the due date. If any payment is received and not credited, or treated as credited, the borrower must be notified of the disposition of the payment within ten business days by mail at the borrower's last known address. The notification must identify the reason the payment was not credited or treated as credited to the account, as well as any actions the borrower must take to make the student education loan current; (c) The servicer must make reasonable attempts to comply with a borrower's request for information about the student education loan account and to respond to any dispute initiated by the borrower about the loan account. The servicer: (i) Must maintain written or electronic records of each written request for information regarding a dispute or error involving the borrower's account until the student education loan is paid in full, sold, or otherwise satisfied; and (ii) Must provide a written statement to the borrower within fifteen business days of receipt of a written request from the borrower. The borrower's request must include the name and account number, if any, of the borrower, a statement that the account is or may be in error, and sufficient detail regarding the information sought by the borrower to permit the servicer to comply. At a minimum, the servicer's response to the borrower's request must include the following information: (A) Whether the account is current or, if the account is not current, an explanation of the default and the date the account went into default; (B) The current balance due on the student education loan, including the principal due, the amount of funds, if any, held in a suspense account, if any, and whether there are any shortages known to the servicer; (C) The identity, address, and other relevant information about the current holder, owner, or assignee of the student education loan; and (D) The telephone number and mailing address of a servicer representative with the information and authority to answer questions and resolve disputes; (d) Promptly correct any errors and refund any fees assessed to the borrower resulting from the servicer's error; and (e) In the event that a borrower applies for or attempts to certify progress toward a discharge or refund of amounts paid on their federal student education loans with the United States department of education, the servicer must provide explanations to the borrower on any decision made with respect to their application. (2) In addition, a borrower may request more detailed information from a servicer, and the servicer must provide the information within fifteen business days of receipt of a written request from the borrower. The request must include the name and account number, if any, of the borrower, a statement that the account is or may be in error, and provide sufficient detail to the servicer regarding information sought by the borrower(1) It is unlawful for any person to acquire control of a bank until thirty days after filing with the director a copy of the notice of change of control required to be filed with the federal deposit insurance corporation or a completed application. The notice or application shall be under oath and contain substantially all of the following information plus any additional information that the director may prescribe as necessary or appropriate in the particular instance for the protection of bank depositors, borrowers, or shareholders and the public interest: (a) The identity, banking and business experience of each person by whom or on whose behalf acquisition is to be made; (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 part 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 bank, to sell its assets, to merge it with any other bank, 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 party, 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 stock to be used in connection with the proposed acquisition. (2) Notwithstanding any other provision of this section, a bank or domestic bank holding company as defined in RCW 30A.04.230 need only notify the director of an intent to acquire control and the date of the proposed acquisition of control at least thirty days before the date of the acquisition of control. (3) When a person, other than an individual or corporation, is required to file an application under this section, the director may require that the information required by subsection (1)(a), (b), and (f) of this section be given with respect to each person, as defined in RCW 30A.04.400 (3), who has an interest in or controls a person filing an application under this subsection. (4) When a corporation 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 the corporation, each officer and director of the corporation, and each person who is directly or indirectly the beneficial owner of twenty-five percent or more of the outstanding voting securities of the corporation. (5) 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. (6) Any acquiring party shall also deliver a copy of any notice or application required by this section to the bank proposed to be acquired within two days after the notice or application is filed with the director. (7) Any acquisition of control in violation of this section shall be ineffective and void. (8) Any person who willfully or intentionally violates this section or any rule adopted pursuant thereto 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.y request more detailed information from a servicer, and the servicer must provide the information within fifteen business days of receipt of a written request from the borrower. The request must include the name and account number, if any, of the borrower, a statement that the account is or may be in error, and provide sufficient detail to the servicer regarding information sought by the borrower. If requested by the borrower this statement must include: (a) A copy of the original note, or if unavailable, an affidavit of lost note; and (b) A statement that identifies and itemizes all fees and charges assessed under the loan transaction and provides a full payment history identifying in a clear and conspicuous manner all of the debits, credits, application of and disbursement of all payments received from or for the benefit of the borrower, and other activity on the student education loan including suspense account activity, if any. The period of the account history must cover at a minimum the two-year period prior to the date of the receipt of the request for information. If the servicer has not serviced the student education loan for the entire two-year time period the servicer must provide the information going back to the date on which the servicer began servicing the loan, and identify the previous servicer, if known. If the servicer claims that any delinquent or outstanding sums are owed on the loan prior to the two-year period or the period during which the servicer has serviced the student education loan, the servicer must provide an account history beginning with the month that the servicer claims any outstanding sums are owed on the student education loan up to the date of the request for the information. The borrower may request annually one statement free of charge. (3) When acquiring servicing rights from another servicer, a receiving servicer must: (a) Notify the student education loan borrowers no more than sixty days and no less than forty-five days before the effective date of the transfer of the students' loans to provide them with: (i) The effective date of the transfer of servicing, and the date at which the receiving servicer will begin to accept payments relating to the loan, if different; (ii) The name, address, and toll-free telephone number for both the transferring and receiving servicers' designated points of contact at which the borrower can obtain answers to inquiries; (iii) A statement that the transfer of servicing does not affect any term or condition of the student education loan other than the entity servicing the loan; (iv) Information about how to obtain a payment history from both the transferring or receiving servicer, including a count of payments that qualify toward any forgiveness options, as applicable; (v) A notification indicating whether an alternative repayment plan or loan consolidation application is pending; and (vi) Information about how to appropriately direct and submit a complaint to the United States department of education, the student loan advocate, federal student loan ombuds, and other relevant federal agencies that collect borrower complaints, in the event of a servicing error; (b) Continue processing loan modification requests, including applications for income-driven repayment, loan forgiveness, or loan consolidation, received by the receiving servicer or the transferring servicer during the transfer process; and (c) Retain records necessary to maintain the borrower's uninterrupted enrollment in their existing repayment plan. (4) When transferring or selling the servicing of loans a transferring servicer must: (a) Notify the student education loan borrowers no more than sixty days and no less than forty-five days before the effective date of the transfer of the students' loans to provide them with: (i) The effective date of the transfer of servicing, and the date at which the transferring servicer will no longer accept payments relating to the loan, if different; (ii) The name, address, and toll-free telephone number for the transferring and receiving servicers' designated points of contact at which the borrower can obtain answers to inquiries; and (iii) A statement that the transfer of servicing does not affect any term or condition of the student education loan other than the entity servicing the loan; and (b) Inform the receiving servicer if a loan modification request is pending. (5) Licensees shall provide, free of charge on the licensee's website, information or links to information regarding repayment and loan forgiveness options that may be available to borrowers, as well as the availability of the student loan advocate to provide assistance. This information or these links shall be prominently placed and provided via written correspondence or email with the borrower at least once per calendar year. (6) In addition to keeping records in compliance with this chapter and RCW 28B.77.007 , licensees shall collect, maintain, and report to the department specific information about the loans in the licensee's portfolio. Such information shall include, but not be limited by: Loan volume, default, refinance and modification information, loan type (subsidized, deferred, etc.) information, and collection practices. (7) The director may adopt all rules necessary to implement this section. The director may, at his or her discretion, waive applicability of the provisions of this section when the director determines it necessary to facilitate commerce and protect consumers. (8) The director's obligations or duties under chapter 62, Laws of 2018 are subject to section 21, chapter 62, Laws of 2018.
RCW 30B.53.080 — Washington Code / Title 30B / Chapter 53 / Section 080
RCW 30B.53.080: Sale of assets.
Status: in_force

(1) The board of a state trust company, with the director's approval, may cause a state trust company to sell all or substantially all of its assets, including the right to control accounts established with the trust company, without shareholder or participant approval if the director finds: (a) The interests of the state trust company's clients, depositors, and creditors are jeopardized because of insolvency or imminent insolvency of the state trust company; and (b) The sale is in the best interest of the state trust company's clients and creditors. (2) A sale under this section must include an assumption and promise by the buyer to pay or otherwise discharge: (a) All of the state trust company's liabilities to clients and depositors; (b) All of the state trust company's liabilities for salaries of the state trust company's employees incurred before the date of the sale; (c) Obligations incurred by the director arising out of the supervision or sale of the state trust company; and (d) Fees and assessments due the department. (3) This section does not limit the incidental power of a state trust company to buy and sell assets in the ordinary course of business. (4) This section does not affect the director's authority to take action under another law. (5) The sale by a trust company of all or substantially all of its assets with shareholder or participant approval is considered a voluntary dissolution and liquidation and is governed by the voluntary dissolution and liquidation provisions of chapter 30A.44 RCW.
RCW 30A.22.200 — Washington Code / Title 30A / Chapter 22 / Section 200
RCW 30A.22.200: Payment to foreign personal representative—Release of financial institution.
Status: in_force

In each case where it is provided in this chapter that payment may be made to the personal representative of the estate of a deceased depositor or trust or P.O.D. account beneficiary, financial institutions may make payment of the funds on deposit in a deceased depositor's or beneficiary's account to the personal representative of the decedent's estate appointed under the laws of any other state or territory or country after: (1) At least sixty days have elapsed since the date of the deceased depositor's death; and (2) Upon receipt of the following: (a) Proof of death of the deceased depositor or beneficiary; (b) Proof of the appointment and continuing authority of the personal representative requesting payment; (c) The personal representative's, or its agent's, affidavit to the effect that to the best of his or her knowledge no personal representative has been or will be appointed under the laws of this state; and (d) Receipt of either an estate tax release from the department of revenue or the personal representative's, or its agent's, affidavit that the estate is not subject to Washington estate tax. However, if a personal representative of the deceased depositor's or beneficiary's estate is appointed and qualified as such under the laws of this state, and delivers proof of the appointment and qualification to the office or branch of the financial institution in which the deposit is maintained prior to the transmissions of the sums on deposit to the foreign personal representative, then the funds shall be paid to the personal representative of the deceased depositor's or beneficiary's estate who has been appointed and qualified in this state. (3) The financial institution paying, delivering, transferring, or issuing funds on deposit in a deceased depositor's or beneficiary's account in accordance with the provisions of this section is discharged and released to the same extent as if such person has dealt with a personal representative of the decedent, unless at the time of such payment, delivery, transfer, or issuance such institution had actual knowledge of the falsity of any statement or affidavit required to be provided under this section. Such institution is not required to see to the application of funds, or to inquire into the truth of any matter specified in any statement or affidavit required to be provided under this section.
RCW 31.04.400 — Washington Code / Title 30A / Chapter 04 / Section 400
RCW 31.04.400: Program for student education loan servicers—Student achievement council's student loan advocate—Costs—Fees.
Status: in_force

(1) The director shall establish fees by rule sufficient to cover the costs of administering the department's program for student education loan servicers and the student achievement council's student loan advocate. These fees may include: (a) An annual assessment specified in rule by the director paid by each licensee on or before the annual assessment due date; (b) A late fee for late payment of the annual assessment as specified in rule by the director; (c) Hourly investigation and examination fees to cover the costs of any investigation or examination of the books and records of a licensee or other person subject to this chapter; (d) A nonrefundable application fee to cover the costs of processing license applications made to the director under this chapter; (e) An initial license fee to cover the period from the date of licensure to the end of the calendar year in which the license is initially granted; and (f) A transaction fee or set of transaction fees to cover the administrative costs associated with processing changes in control, changes of address, and other administrative changes as specified in rule by the director. (2) The director shall ensure that when an examination or investigation, or any part of the examination or investigation, of any licensee applicant or person subject to licensing under this chapter requires travel and services outside this state by the director or designee, the licensee applicant or person subject to licensing under this chapter that is the subject of the examination or investigation shall pay the actual travel expenses incurred by the director or designee conducting the examination or investigation. (3) All moneys, fees, and penalties collected for the department's program for student education loan servicing shall be deposited into the financial services regulation fund, except as provided in RCW 43.320.110 . (4) The director's obligations or duties under chapter 62, Laws of 2018 are subject to section 21, chapter 62, Laws of 2018.As used in RCW 30A.04.400 through 30A.04.410 , the following words shall have the following meanings: (1) "Control" means directly or indirectly alone or in concert with others to own, control, or hold the power to vote twenty-five percent or more of the outstanding stock or voting power of the "controlled" entity; (2) "Acquiring party" means the person acquiring control of a bank through the purchase of stock; and (3) "Person" means any individual, corporation, partnership, association, business trust, or other organization.
RCW 30A.98.010 — Washington Code / Title 30A / Chapter 98 / Section 010
RCW 30A.98.010: Continuation of existing law.
Status: repealed

The provisions of this title insofar as they are substantially the same as statutory provisions repealed by this chapter and relating to the same subject matter, shall be construed as restatements and continuations, and not as new enactments.
RCW 30A.42.010 — Washington Code / Title 30A / Chapter 42 / Section 010
RCW 30A.42.010: Purpose.
Status: in_force

The purpose of this chapter is to establish a legal and regulatory framework for operation by alien banks in the state of Washington that will: (1) Create a financial climate which will benefit the economy of the state of Washington; (2) Provide a well regulated and supervised financial system to assist the movement of foreign capital into Washington state for the support and diversification of the local industrial base; (3) Assist the development of the economy of the state of Washington without disrupting business relationships of state and federal financial institutions.
RCW 30B.38.010 — Washington Code / Title 30B / Chapter 38 / Section 010
RCW 30B.38.010: Preexisting approved out-of-state trust institutions.
Status: in_force

Notwithstanding any other provision of this title, an out-of-state trust institution that complies with RCW 30B.38.020 (1) and 30B.72.010 is exempt from the requirements of RCW 30B.38.030 and 30B.38.040 .
RCW 30B.12.130 — Washington Code / Title 30B / Chapter 12 / Section 130
RCW 30B.12.130: Directors, committees—Meetings authorized by conference telephone or similar communications equipment.
Status: in_force

Except as may be otherwise restricted by the articles of incorporation or bylaws of a state trust company, members of its board of directors or any committee designated by its board of directors may participate in a meeting of the board or committee by means of a conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other at the same time. Participation by such means shall constitute presence, in person, at a meeting.
RCW 30A.04.450 — Washington Code / Title 30A / Chapter 04 / Section 450
RCW 30A.04.450: Notice of charges—Reasons for issuance—Contents—Hearing—Cease and desist order.
Status: in_force

(1) The director may issue and serve a notice of charges upon a bank when in the opinion of the director: (a) It has engaged in an unsafe and unsound practice related to the conduct of business of the bank; (b) It has violated any provision of RCW 30A.04.050 ; or (c) It is planning, attempting, or currently conducting any act prohibited in (a) or (b) of this subsection. (2) The director may issue and serve a notice of charges upon a holding company when, in the opinion of the director: (a) The holding company has committed a violation of RCW 30A.04.050 (2); (b) The conduct of the holding company has resulted in an unsafe and unsound practice at the bank or a violation of any provision of RCW 30A.04.050 by the bank; or (c) The holding company is planning, attempting, or currently conducting any act prohibited in (a) or (b) of this subsection. (3) The notice shall contain a statement of the facts constituting the alleged violation or violations or the practice or practices and shall fix a time and place at which a hearing will be held to determine whether an order to cease and desist should issue against the bank or holding company. The hearing shall be set not earlier than ten days or later than thirty days after service of the notice unless a later date is set by the director at the request of the bank or holding company. (4) Unless the bank or holding company shall appear at the hearing by a duly authorized representative it shall be deemed to have consented to the issuance of the cease and desist order. In the event of this consent or if upon the record made at the hearing the director finds that any violation or practice specified in the notice of charges has been established, the director may issue and serve upon the bank or holding company an order to cease and desist from the violation or practice. The order may require the bank or holding company, and its directors, officers, employees, and agents to cease and desist from the violation or practice and may require the bank or holding company to take affirmative action to correct the conditions resulting from the violation or practice. (5) A cease and desist order shall become effective at the expiration of ten days after the service of the order upon the bank concerned except that a cease and desist order issued upon consent shall become effective at the time specified in the order and shall remain effective as provided therein unless it is stayed, modified, terminated, or set aside by action of the director or a reviewing court.
RCW 30A.44.220 — Washington Code / Title 30A / Chapter 44 / Section 220
RCW 30A.44.220: Disposition of proceeds—Escheat.
Status: in_force

The proceeds of such sale shall be deposited by the director in a bank to his or her credit, in trust for the benefit of the person entitled thereto, and shall be paid by him or her to such person upon receipt of satisfactory evidence of his or her 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 30B.53.050 — Washington Code / Title 30B / Chapter 53 / Section 050
RCW 30B.53.050: Resulting trust company—Property, rights, powers, and duties.
Status: in_force

(1) A resulting trust company is the same business and corporate entity as each merging trust company with all property, rights, powers, and duties of each merging trust company, except as affected by state law and by the charter and bylaws of the resulting trust company. A resulting trust company has the right to use the name of any merging trust company whenever it can do any act under such name more conveniently. (2) Any reference to a merging trust company in any writing, whether executed or taking effect before or after the merger, is a reference to the resulting trust company if not inconsistent with the other provisions of that writing.
RCW 30A.04.075 — Washington Code / Title 30A / Chapter 04 / Section 075
RCW 30A.04.075: Examination reports and information—Confidentiality—Disclosure—Penalty.
Status: in_force

(1) All examination reports and all information obtained by the director and the director's staff in conducting examinations of banks, trust companies, or alien banks, and information obtained by the director and the director's staff from other state or federal bank regulatory authorities with whom the director has entered into agreements pursuant to RCW 30A.04.060 (6), and information obtained by the director and the director's staff relating to examination and supervision of bank holding companies owning a bank in this state or subsidiaries of such holding companies, is confidential and privileged information and shall not be made public or otherwise disclosed to any person, firm, corporation, agency, association, governmental body, or other entity. (2) Subsection (1) of this section notwithstanding, the director may furnish all or any part of examination reports, work papers, supervisory agreements or directives, orders, or other information obtained in the conduct of an examination or investigation prepared by the director's office to: (a) Federal agencies empowered to examine state banks, trust companies, or alien banks; (b) Bank regulatory authorities with whom the director has entered into agreements pursuant to RCW 30A.04.060 (6), and other bank regulatory authorities who are the primary regulatory authority or insurer of accounts for a bank holding company owning a bank, trust company, or national banking association the principal operations of which are conducted in this state or a subsidiary of such holding company; provided that the director shall first find that the reports of examination to be furnished shall receive protection from disclosure comparable to that accorded by this section; (c) Officials empowered to investigate criminal charges subject to legal process, valid search warrant, or subpoena. If the director furnishes any examination report to officials empowered to investigate criminal charges, the director may only furnish that part of the report which is necessary and pertinent to the investigation, and the director may do this only after notifying the affected bank, trust company, or alien bank and any customer of the bank, trust company, or alien bank who is named in that part of the examination or report ordered to be furnished unless the officials requesting the report first obtain a waiver of the notice requirement from a court of competent jurisdiction for good cause; (d) The examined bank, trust company, or alien bank, or holding company thereof; (e) The attorney general in his or her role as legal advisor to the director; (f) Liquidating agents of a distressed bank, trust company, or alien bank; (g) A person or organization officially connected with the bank as officer, director, attorney, auditor, or independent attorney or independent auditor; (h) The Washington public deposit protection commission as provided by RCW 39.58.105 ; (i) Organizations insuring or guaranteeing the shares of, or deposits in, the bank or trust company; or (j) Other persons as the director may determine necessary to protect the public interest and confidence. (3) All examination reports, work papers, supervisory agreements or directives, orders, and other information obtained in the conduct of an examination or investigation furnished under subsections (2) and (4) of this section shall remain the property of the department of financial institutions, and be confidential and no person, agency, or authority to whom reports are furnished or any officer, director, or employee thereof shall disclose or make public any of the reports or any information contained therein except in published statistical material that does not disclose the affairs of any individual or corporation: PROVIDED, That nothing herein shall prevent the use in a criminal prosecution of reports furnished under subsection (2) of this section(1) The licensee may not maintain more than one place of business under the same license unless: (a) The director authorizes more than one license to the same licensee upon approval of an application by the licensee in a form and manner established by the director; or (b) The place of business is a licensed mortgage loan originator's residence and the licensed mortgage loan originator and licensed sponsoring company comply with state and federal information security requirements and all other requirements set forth in rule for mortgage loan originators working from their residences as provided in this chapter and in rule, consistent with the purposes of this section. (2) Whenever a licensee wishes to change the place of business to a street address other than that reported in the nationwide mortgage licensing system and registry, the licensee must give prior written notice to the director, pay the fee, and obtain the director's approval.reports are furnished or any officer, director, or employee thereof shall disclose or make public any of the reports or any information contained therein except in published statistical material that does not disclose the affairs of any individual or corporation: PROVIDED, That nothing herein shall prevent the use in a criminal prosecution of reports furnished under subsection (2) of this section. (4) The examination report made by the department of financial institutions is designed for use in the supervision of the bank, trust company, or alien bank. The report shall remain the property of the director and will be furnished to the bank, trust company, or alien bank solely for its confidential use. Under no circumstances shall the bank, trust company, or alien bank or any of its directors, officers, or employees disclose or make public in any manner the report or any portion thereof, to any person or organization not connected with the bank as officer, director, employee, attorney, auditor, or candidate for executive office with the bank. The bank may also, after execution of an agreement not to disclose information in the report, disclose the report or relevant portions thereof to a party proposing to acquire or merge with the bank. (5) Examination reports and information obtained by the director and the director's staff in conducting examinations, or obtained from other state and federal bank regulatory authorities with whom the director has entered into agreements pursuant to RCW 30A.04.060 (6), or relating to examination and supervision of bank holding companies owning a bank, trust company, or national banking association the principal operations of which are conducted in this state or a subsidiary of such holding company, or information obtained as a result of applications or investigations pursuant to RCW 30A.04.230 , shall not be subject to public disclosure under chapter 42.56 RCW. (6) In any civil action in which the reports are sought to be discovered or used as evidence, any party may, upon notice to the director, petition the court for an in camera review of the report. The court may permit discovery and introduction of only those portions of the report which are relevant and otherwise unobtainable by the requesting party. This subsection shall not apply to an action brought or defended by the director. (7) This section shall not apply to investigation reports prepared by the director and the director's staff concerning an application for a new bank or trust company or an application for a branch of a bank, trust company, or alien bank: PROVIDED, That the director may adopt rules making confidential portions of the reports if in the director's opinion the public disclosure of the portions of the report would impair the ability to obtain the information which the director considers necessary to fully evaluate the application. (8) Notwithstanding any other provision of this section or other applicable law, a bank, trust company, alien bank, or holding company is not in violation of this section on account of its compliance with required reporting to the federal securities and exchange commission, including the disclosure of any order of the director. (9) Every person who violates any provision of this section shall be guilty of a gross misdemeanor.
RCW 30A.44.240 — Washington Code / Title 30A / Chapter 44 / Section 240
RCW 30A.44.240: Transfer of assets and liabilities to another bank.
Status: in_force

A bank may for the purpose of voluntary liquidation transfer its assets and liabilities to another bank, by a vote, or with the written consent of the stockholders of record owning two-thirds of its capital stock, but only with the written consent of the director and upon such terms and conditions as he or she may prescribe. Upon any such transfer being made, or upon the liquidation of any such corporation for any cause whatever or upon its being no longer engaged in the business of a bank, the director shall terminate its certificate of authority, which shall not thereafter be revived or renewed. When the certificate of authority of any such corporation shall have been revoked, it shall forthwith collect and distribute its remaining assets, and when that is done the director shall certify the fact to the secretary of state, whereupon the corporation shall cease to exist and the secretary of state shall note that fact upon his or her records.
RCW 30A.26.120 — Washington Code / Title 30A / Chapter 26 / Section 120
RCW 30A.26.120: Term and termination.
Status: in_force

(1) Unless otherwise provided in the account agreement, a special deposit terminates five years after the date the special deposit was first funded. (2) Unless otherwise provided in the account agreement, if the bank cannot identify or locate a beneficiary entitled to payment when the special deposit is terminated, and a balance remains in the special deposit, the bank shall pay the balance to the depositor or depositors as a beneficiary or beneficiaries. (3) A bank that pays the remaining balance as provided under subsection (2) of this section has no further obligation with respect to the special deposit.
RCW 30B.08.010 — Washington Code / Title 30B / Chapter 08 / Section 010
RCW 30B.08.010: Formation—Issuance of certificate of authority—Amendment of articles, etc.
Status: in_force

Except as set forth in this chapter or as may be prescribed by rule of the director, RCW 30A.08.020 , 30A.08.040 , 30A.08.050 , 30A.08.055 , 30A.08.060 , 30A.08.070 , 30A.08.081 , 30A.08.082 , 30A.08.083 , 30A.08.084 , 30A.08.086 , 30A.08.087 , 30A.08.088 , 30A.08.090 , 30A.08.092 , and * 30A.08.170 shall, in relation to state trust companies, govern the formation, furnishing of notice, approval or refusal of articles of organization, effect of failure to commence business, issuance and treatment of shares or equity, rights of preferred or special shareholders, determination of capital impairment, treatment of authorized unissued shares, amendment of articles of organization, authorization of increase or decrease of stock or equity, and appointment of nominees for the holding of securities, the same as if a state trust company were a state bank under Title 30A RCW.
RCW 30B.20.010 — Washington Code / Title 30B / Chapter 20 / Section 010
RCW 30B.20.010: Trust deposits as a client investment—Security fund.
Status: in_force

(1) The director may establish by rule a plan for the safe and sound deposit of trust funds by a state trust company with itself as an investment, if: (a) The investment of the trust deposits is authorized in writing by the settlor or the beneficiary; (b) The state trust company maintains as security for the trust deposits a separate fund of securities, which are permissible for trust investments, under control of a federal reserve bank or a clearing corporation, either in this state or elsewhere; (c) The total market value of the security is at all times at least equal to the amount of the deposit; (d) The separate fund is designated as security for trust deposits; (e) The separate fund is maintained under the control of a bank or government agency; and (f) The state trust company complies with such other terms and conditions as the director may establish by rule in the interest of safety and soundness and protection of the public. (2) A state trust company may make periodic withdrawals from or additions to the securities fund required by subsection (1) of this section as long as the required value is maintained. (3) Income from the securities in the fund belongs to the state trust company.
RCW 30A.46.040 — Washington Code / Title 30A / Chapter 46 / Section 040
RCW 30A.46.040: Conservator—Appointment—Grounds—Powers, duties, and functions.
Status: in_force

After the period of supervisory direction specified by the director for compliance, if he or she determines that such bank has failed to comply with the lawful requirements imposed, upon due notice and hearing or by consent of the bank, the director may appoint a conservator, who shall immediately take charge of such bank and all of its property, books, records, and effects. The conservator shall conduct the business of the bank and take such steps toward the removal of the causes and conditions which have necessitated such order, as the director may direct. During the pendency of the conservatorship the conservator shall make such reports to the director from time to time as may be required by the director, and shall be empowered to take all necessary measures to preserve, protect, and recover any assets or property of such bank, including claims or causes of actions belonging to or which may be asserted by such bank, and to deal with the same in his or her own name as conservator, and shall be empowered to file, prosecute, and defend any suit and suits which have been filed or which may thereafter be filed by or against such bank which are deemed by the conservator to be necessary to protect all of the interested parties for a property affected thereby. The director, or any newly appointed assistant, may be appointed to serve as conservator. If the director, however, is satisfied that such bank is not in condition to continue business in the interest of its customers under the conservator as above provided, the director may proceed with appropriate remedies provided by other provisions of this title.
RCW 30A.44.150 — Washington Code / Title 30A / Chapter 44 / Section 150
RCW 30A.44.150: Unclaimed dividends—Disposition.
Status: in_force

Any dividends to depositors or other creditors of such bank remaining uncalled for and unpaid in the hands of the director for six months after order of final distribution, shall be deposited in a bank to his or her credit, in trust for the benefit of the persons entitled thereto and subject to the supervision of the court 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 30B.08.080 — Washington Code / Title 30B / Chapter 08 / Section 080
RCW 30B.08.080: Powers of a state trust company.
Status: in_force

(1) Upon the issuance of a certificate of authority to a state trust company as prescribed in this chapter and its commencement of business pursuant to such certificate of authority, it shall be a corporation or limited liability company for the purpose of engaging in trust business under this title, including: (a) Accepting or executing trusts, including: (i) Acting as trustee under a written agreement; (ii) Receiving money or other property in its capacity as trustee for investment in real or personal property; (iii) Acting as trustee and performing the fiduciary duties committed or transferred to it by a valid and applicable court order; (iv) Acting as trustee of the estate of a deceased person; (v) Acting as trustee for a minor or incapacitated person; (vi) Acting as a trustee of collective investment funds or common trust funds; or (vii) Acting as a trustee of statutory or similar trusts; (b) Acting as an attorney-in-fact in any agreed upon capacity; (c) Acting pursuant to court order as executor, administrator, guardian, or conservator of an estate; or (d) Regularly engaging in any other activity that the director determines by rule to be an essential function of a trust business in Washington state upon his or her finding that (i) the proposed activity of the applicant is closely akin to acting as a fiduciary, (ii) the proposed activity cannot be more effectively regulated under a statute of Washington state other than this title, and (iii) the exercise of such powers by the applicant in Washington state (A) would serve the convenience and advantage of trustors and beneficiaries, or the general public, and (B) would maintain the fairness of competition and parity between state trust companies and, as applicable, federal trust institutions or out-of-state trust institutions. (2) The state trust company also shall be a corporation or limited liability company for the purposes of engaging in trust business under this title if the director otherwise issues a written finding, pursuant to a specific application for a certificate of authority to do business as a state trust institution in Washington state pursuant to this chapter or chapter 30B.38 RCW, that all of the criteria set forth in subsection (1)(d) of this section exist in relation to the applicant. (3) Pursuant to such certificate of authority, a state trust company may also perform incidental activities, other than trust business, which include: (a) Acting as a bailee or receiving for safekeeping personal property; (b) Acting as a custodian for money or its equivalent, or for other personal property, which conduct has not otherwise been determined by rule to be trust business pursuant to subsection (1)(d) of this section; (c) Acting as a recordkeeper for a retirement plan; (d) Acting as the registrar of or transfer agent for stocks and bonds; (e) Acting as a sponsoring or other member of any clearing corporation with respect to securities or other property; (f) Acting as an escrow agent, escrow holder, or managing agent; (g) Acting as a receiver; (h) Acting as a manager of a limited liability company, limited liability partnership, or similar entity; or (i) Conducting such other incidental activities permissible for a state trust company as the director shall prescribe by rule. (4) The director may prescribe rules for the safe and sound exercise of the powers enumerated in subsections (1) and (3) of this section. (5) A trust department of a state commercial bank, to the extent authorized under RCW 30A.08.150 , or a trust department of a state savings bank, to the extent authorized under RCW 32.08.210 , may exercise all of the powers and authorities of a state trust company under this title. (6) A state trust company, when acting in a fiduciary capacity, either alone or jointly with an individual or individuals, may, with the consent of such individual or individuals, who are hereby authorized to give such consent, cause any stocks, securities, or other property held or acquired to be registered and held in the name of a nominee or nominees of the state trust company without mention of the fiduciary relationship. Any such fiduciary shall be liable for any loss occasioned by the acts of any of its nominees with respect to such stocks, securities, or other property so registered.
RCW 30A.38.005 — Washington Code / Title 30A / Chapter 38 / Section 005
RCW 30A.38.005: Definitions.
Status: in_force

As used in this chapter, unless a different meaning is required by the context, the following words and phrases have the following meanings: (1) "Bank" means any national bank, state bank, and district bank, as those terms are defined in 12 U.S.C. Sec. 1813(a), and any savings association, as defined in 12 U.S.C. Sec. 1813(b). (2) "Bank holding company" has the meaning set forth in 12 U.S.C. Sec. 1841(a)(1), and also means a savings and loan holding company, as defined in 12 U.S.C. Sec. 1467a. (3) "Bank supervisory agency" means: (a) Any agency of another state with primary responsibility for chartering and supervising banks; and (b) The office of the comptroller of the currency, the federal deposit insurance corporation, the board of governors of the federal reserve system, and any successor to these agencies. (4) "Control" shall be construed consistently with the provisions of 12 U.S.C. Sec. 1841(a)(2). (5) "Home state" means with respect to a: (a) State bank, the state by which the bank is chartered; or (b) Federally chartered bank, the state in which the main office of the bank is located under federal law. (6) "Home state regulator" means, with respect to an out-of-state state bank, the bank supervisory agency of the state in which the bank is chartered. (7) "Host state" means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain a branch. (8) "Interstate combination" means the: (a) Merger or consolidation of banks with different home states, and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or (b) Purchase of all or substantially all of the assets, including all or substantially all of the branches, of a bank whose home state is different from the home state of the acquiring bank. (9) "Out-of-state bank" means a bank whose home state is a state other than Washington. (10) "Out-of-state state bank" means a bank chartered under the laws of any state other than Washington. (11) "Resulting bank" means a bank that has resulted from an interstate combination under this chapter. (12) "State" means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands. (13) "Washington bank" means a bank whose home state is Washington. (14) "Washington state bank" means a bank organized under Washington banking law. (15) "Branch" means an office of a bank through which it receives deposits, other than its principal office. Any of the functions or services authorized to be engaged in by a bank may be carried out in an authorized branch office. (16) "De novo branch" means a branch of a bank located in a host state which: (a) Is originally established by the bank as a branch; and (b) Does not become a branch of the bank as a result of: (i) The acquisition of another bank or a branch of another bank; or (ii) A merger, consolidation, or conversion involving any such bank or branch.
RCW 30A.04.295 — Washington Code / Title 30A / Chapter 04 / Section 295
RCW 30A.04.295: Agency agreements—Written notice to director.
Status: in_force

On or before the date on which a bank enters into any agency agreement authorizing another entity, as agent of the bank, to receive deposits or renew time deposits, the bank shall give written notice to the director of the existence of that agency arrangement. The notice is not effective until it has been delivered to the office of the director.
RCW 30A.42.115 — Washington Code / Title 30A / Chapter 42 / Section 115
RCW 30A.42.115: Solicitation and acceptance of deposits.
Status: in_force

(1) Any branch of an alien bank that received approval of its branch application pursuant to RCW 30A.42.090 , or that had filed its branch application pursuant to RCW 30A.42.060 , on or before July 27, 1978, and any approved branch of an alien bank that has designated Washington as its home state pursuant to section 5 of the International Banking Act of 1978, shall have the same power to solicit and accept deposits as a state bank chartered pursuant to this title, except that acceptance of initial deposits of less than one hundred thousand dollars shall be limited to deposits of the following: (a) Any business entity, including any corporation, partnership, association, or trust, that engages in commercial activity for profit: PROVIDED, That there shall be excluded from this category any such business entity that is organized under the laws of any state or the United States, is majority-owned by United States citizens or residents, and has total assets, including assets of majority-owned subsidiaries, of less than one million five hundred thousand dollars as of the date of the initial deposit; (b) Any governmental unit, including the United States government, any state government, any foreign government and any political subdivision or agency of the foregoing; (c) Any international organization which is composed of two or more nations; (d) Any draft, check, or similar instrument for the transmission of funds issued by the branch; (e) Any depositor who is not a citizen of the United States and who is not a resident of the United States at the time of the initial deposit; (f) Any depositor who established a deposit account on or before July 1, 1982, and who has continuously maintained the deposit account since that date: PROVIDED, That this subparagraph (f) of this subsection shall be effective only until July 1, 1985; (g) Any other person: PROVIDED, That the amount of deposits under this subparagraph (g) of this subsection may not exceed four percent of the average of the branch's deposits for the last thirty days of the most recent calendar quarter, excluding deposits in the branch of other offices, branches, agencies, or wholly owned subsidiaries of the alien bank. (2) As used in subsection (1) of this section, "initial deposit" means the first deposit transaction between a depositor and the branch. Different deposit accounts that are held by a depositor in the same right and capacity may be added together for purposes of determining the dollar amount of that depositor's initial deposit. (3) Approved branches of alien banks, other than those described in subsection (1) of this section, may solicit and accept deposits only from foreign governments and their agencies and instrumentalities, persons, or entities conducting business principally at their offices or establishments abroad, and such other deposits that: (a) Are to be transmitted abroad; (b) Consist of collateral or funds to be used for payment of obligations to the branch; (c) Consist of the proceeds of collections abroad that are to be used to pay for exported or imported goods or for other costs of exporting or importing or that are to be periodically transferred to the depositor's account at another financial institution; (d) Consist of the proceeds of extensions of credit by the branch; or (e) Represent compensation to the branch for extensions of credit or services to the customer. (4) A branch may accept deposits, subject to the limitations set forth in subsections (1) and (3) of this section, only upon the same terms and conditions (including nature and extent of such deposits, withdrawal, and the payment of interest thereon) that banks organized under the laws of this state which are members of the Federal Reserve System may accept such deposits. Any branch that is not subject to reserve requirements under regulations of the Federal Reserve Board shall maintain deposit reserves in this state, pursuant to rules adopted by the director, to the same extent they must be maintained by banks organized under the laws of this state which are members of the Federal Reserve System.
RCW 30A.12.205 — Washington Code / Title 30A / Chapter 12 / Section 205
RCW 30A.12.205: Stock purchase options—Incentive bonus contracts, stock purchase or bonus plans, and profit sharing plans.
Status: in_force

Subject to any restrictions in its articles of incorporation and in accordance with and subject to the provisions of RCW 30A.08.088 , the board of directors of a bank may grant options entitling the holders thereof to purchase from the corporation shares of any class of its stock. The instrument evidencing the option shall state the terms upon which, the time within which, and the price at which such shares may be purchased from the corporation upon the exercise of such option. If any such options are granted by contract, or are to be granted pursuant to a plan, to officers or employees of the bank, then the contract or the plan shall require the approval, within twelve months of its approval by the board of directors, of the holders of a majority of its voting capital stock. Subsequent amendments to any such contract or plan which do not change the price or duration of any option, the maximum number of shares which may be subject to options, or the class of employees eligible for options may be made by the board of directors without further shareholder approval. Subject to any restrictions in its articles of incorporation, the board of directors of a bank shall have the authority to enter into any plans or contracts providing for compensation for its officers and employees, including, but not being limited to, incentive bonus contracts, stock purchase or bonus plans and profit sharing plans.
RCW 30A.12.060 — Washington Code / Title 30A / Chapter 12 / Section 060
RCW 30A.12.060: Loans to officers or employees.
Status: in_force

(1) Any bank shall be permitted to make loans to any employee of such corporation, or to purchase, discount or acquire, as security or otherwise, the obligation or debt of any employee to any other person, to the same extent as if the employee were in no way connected with the corporation. Any bank shall be permitted to make loans to any officer of such corporation, or to purchase, discount or acquire, as security or otherwise, the obligation or debt of any officer to any other person: PROVIDED, That the total value of the loans made and obligation acquired for any one officer shall not exceed such amount as shall be prescribed by the director pursuant to regulations adopted in accordance with the Administrative Procedure Act, chapter 34.05 RCW, as now or hereafter amended: AND PROVIDED FURTHER, That no such loan shall be made, or obligation acquired, in excess of five percent of a bank's capital and unimpaired surplus or twenty-five thousand dollars, whichever is larger, unless a resolution authorizing the same shall be adopted by a vote of a majority of the board of directors of such corporation prior to the making of such loan or discount, and such vote and resolution shall be entered in the corporate minutes. In no event shall the loan or obligation acquired exceed five hundred thousand dollars in the aggregate without prior approval by a majority of the corporation's board of directors. No loan in excess of five percent of a bank's capital and unimpaired surplus or twenty-five thousand dollars, whichever is larger, shall be made by any bank to any director of such corporation nor shall the note or obligation in excess of five percent of a bank's capital and unimpaired surplus or twenty-five thousand dollars, whichever is larger, of such director be discounted by any such corporation, or by any officer or employee thereof in its behalf, unless a resolution authorizing the same shall be adopted by a vote of a majority of the entire board of directors of such corporation exclusive of the vote of such interested director, and such vote and resolution shall be entered in the corporate minutes. In no event may the loan or obligation acquired exceed five hundred thousand dollars in the aggregate without prior approval by a majority of the corporation's board of directors. Each bank shall at such times and in such form as may be required by the director, report to the director all outstanding loans to directors of such bank. The amount of any endorsement or agreement of suretyship or guaranty of any such director to the corporation shall be construed to be a loan within the provisions of this section. Any modification of the terms of an existing obligation (excepting only such modifications as merely extend or renew the indebtedness) shall be construed to be a loan within the meaning of this section. (2) "Unimpaired surplus," as used in this section, consists of the sum of the following amounts: (a) Fifty percent of the reserve for possible loan losses; (b) Subordinated notes and debentures; (c) Surplus; (d) Undivided profits; and (e) Reserve for contingencies and other capital reserves, excluding accrued dividends on preferred stock.
RCW 30A.22.190 — Washington Code / Title 30A / Chapter 22 / Section 190
RCW 30A.22.190: Payment to heirs and creditors of a deceased depositor.
Status: in_force

In each case, where it is provided in RCW 30A.22.180 that a financial institution may make payment of funds deposited in an account to the personal representative of the estate of a deceased depositor or beneficiary, the financial institution may make payment of the funds to the following persons under the circumstances provided: (1) In those instances where the deceased depositor left a surviving spouse, and the deceased depositor and the surviving spouse shall have executed a community property agreement which by its terms would include funds of the deceased depositor remaining in the account, a financial institution may make payment of all funds in the name of the deceased spouse to the surviving spouse upon receipt of a certified copy of the community property agreement as recorded in the office of a county auditor of the state and an affidavit of the surviving spouse that the community property agreement was validly executed and in full force and effect upon the death of the depositor. (2) In those instances where the balance of the funds in the name of a deceased depositor does not exceed two thousand five hundred dollars, payment of the decedent's funds remaining in the account may be made to the surviving spouse, next of kin, funeral director, or other creditor who may appear to be entitled thereto upon receipt of proof of death and an affidavit to the effect that no personal representative has been appointed for the deceased depositor's estate. As a condition to the payment, a financial institution may require such waivers, indemnity, receipts, and acquittance and additional proofs as it may consider proper. (3) In those instances where the person entitled presents an affidavit which meets the requirements of chapter 11.62 RCW. A person receiving a payment from a financial institution pursuant to subsections (2) and (3) of this section is answerable and accountable therefor to any personal representative of the deceased depositor's estate wherever and whenever appointed.
RCW 30B.12.070 — Washington Code / Title 30B / Chapter 12 / Section 070
RCW 30B.12.070: Bonding requirements.
Status: in_force

The board of a state trust company shall require protection and indemnity for clients in reasonable amounts consistent with the bonding requirements for a state bank under RCW 30A.12.030 and as may further be established by rule adopted under this chapter, against dishonesty, fraud, defalcation, forgery, theft, and other similar insurable losses, with corporate insurance or surety companies.
RCW 30A.04.220 — Washington Code / Title 30A / Chapter 04 / Section 220
RCW 30A.04.220: Corporations existing under former laws.
Status: in_force

Every corporation, which on March 10, 1917, was actually and publicly engaged in banking or trust business in this state in full compliance with the laws hereof, which were in force immediately prior to March 10, 1917, may, if it otherwise complies with the provisions of this title, continue its said business, subject to the terms and regulations hereof and without amending its articles of incorporation, although its name and the amount of its capital stock, the number or length of terms of its directors or the form of its articles of incorporation do not comply with the requirements of this title: PROVIDED, (1) That any such bank, which was by the director lawfully permitted to operate, although its capital stock was not fully paid in, shall pay in the balance of its capital stock at such times and in such amounts as the director may require; (2) That, except with written permission of the director, any bank which shall amend its articles of incorporation must in such event comply with all the requirements of this title.
RCW 30B.44B.110 — Washington Code / Title 30B / Chapter 44B / Section 110
RCW 30B.44B.110: Preferences prohibited—Penalty.
Status: in_force

(1) Any transfer of its property or assets by a state trust company, made (a) in contemplation of insolvency or after it shall have become insolvent, (b) within ninety days before the date the director takes possession of such state trust company, and (c) with a view to the preference of one creditor over another or to prevent the equal distribution of its property and assets among its creditors, shall be void. (2) Every director, officer, or employee of a state trust company making any such transfer of assets is guilty of a class B felony punishable according to chapter 9A.20 RCW.
RCW 30B.12.010 — Washington Code / Title 30B / Chapter 12 / Section 010
RCW 30B.12.010: Bylaws.
Status: in_force

(1) A state trust company shall adopt bylaws and may amend its bylaws from time to time for the purposes and in accordance with the procedures set forth in the Washington business corporation act. (2) A limited liability trust company in which management is retained by the participants is not required to adopt bylaws if provisions required by law to be contained in the bylaws are contained in the articles of association or the participation agreement. If a limited liability trust company has adopted bylaws which designate each full liability participant, the limited liability trust company shall file with the director a copy of the bylaws. Solely that portion of the bylaws designating each full liability participant is a public record.
RCW 30A.04.260 — Washington Code / Title 30A / Chapter 04 / Section 260
RCW 30A.04.260: Legal services, advertising of—Penalty.
Status: in_force

(1) No person, other than an attorney-at-law or law firm as permitted by other law, which advertises that it will furnish legal advice, construct or prepare wills, or do other legal work for its customers, shall be permitted to act as executor, administrator, or guardian; and such person whose officers or agents shall solicit legal business shall be ineligible for a period of one year thereafter to be appointed executor, administrator, or guardian in any of the courts of this state. (2) Any person authorized under this title or Title 30B RCW to engage in a trust business, which advertises that it will furnish legal advice, construct or prepare wills, or do other legal work for its customers, and any officer, agent, or employee of such person who shall solicit legal business is guilty of a gross misdemeanor.
RCW 30A.04.225 — Washington Code / Title 30A / Chapter 04 / Section 225
RCW 30A.04.225: Contributions and gifts.
Status: in_force

In the absence of an express prohibition in its articles of incorporation, the making of contributions or gifts for the public welfare, or for charitable, scientific, or educational purposes by a state bank is within its powers and shall be deemed to inure to the benefit of the bank.
RCW 30A.04.217 — Washington Code / Title 30A / Chapter 04 / Section 217
RCW 30A.04.217: Additional powers of a bank—Powers and authorities of savings bank—Definition—Restrictions.
Status: in_force

(1) Notwithstanding any other provisions 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 upon a savings bank under Title 32 RCW. (2) As used in this section, "powers and authorities" include without limitation powers and authorities in corporate governance and operational matters. (3) The restrictions, limitations, and requirements applicable to specific powers and authorities of savings banks 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.
RCW 30A.22.160 — Washington Code / Title 30A / Chapter 22 / Section 160
RCW 30A.22.160: Payment to trust and P.O.D. account beneficiaries.
Status: in_force

Financial institutions may pay any funds remaining on deposit in an account to a trust or P.O.D. account beneficiary or beneficiaries when the financial institution has received proofs of death of all depositors to the account who pursuant to the terms of the contract of deposit were required to predecease the beneficiary. If there is more than one trust or P.O.D. account beneficiary, financial institutions shall not, unless the contract of deposit otherwise provides, pay to any one such beneficiary more than that amount which is obtained by dividing the total of the funds on deposit in the account by the number of trust or P.O.D. account beneficiaries.
RCW 30A.12.110 — Washington Code / Title 30A / Chapter 12 / Section 110
RCW 30A.12.110: Commission, etc., for procuring loan—Penalty.
Status: in_force

No officer, director, agent, employee or stockholder of any bank shall, directly or indirectly, receive a bonus, commission, compensation, remuneration, gift, speculative interest or gratuity of any kind from any person, firm or corporation other than the bank or as allowed by RCW 30A.12.115 for granting, procuring or endeavoring to procure, for any person, firm or corporation, any loan by or out of the funds of such bank or the purchase or sale of any securities or property for or on account of such bank or for granting or procuring permission for any person, firm or corporation to overdraw any account with such bank. Any person violating this section shall be guilty of a gross misdemeanor.
RCW 30A.08.180 — Washington Code / Title 30A / Chapter 08 / Section 180
RCW 30A.08.180: Reports of resources and liabilities.
Status: in_force

Every bank shall make at least three regular reports each year to the director, as of the dates which he or she shall designate, according to form prescribed by him or her, verified by the president, manager or cashier and attested by at least two directors, which shall exhibit under appropriate heads the resources and liabilities of such corporation. The dates designated by the director shall be the dates designated by the comptroller of the currency of the United States for reports of national banking associations. Every such corporation shall also make such special reports as the director shall call for.
RCW 30B.44A.040 — Washington Code / Title 30B / Chapter 44A / Section 040
RCW 30B.44A.040: Unclaimed property and moneys.
Status: in_force

(1) All unclaimed property remaining in the possession of a state trust company that has been voluntarily liquidated according to this chapter is subject to the provisions of chapter 11.08 RCW, except to the extent set forth in this section. (2) Any funds, less outstanding fees and assessments owed to the director under RCW 30A.04.070 , payment of allowable third-party claims, and disposition of fiduciary assets in compliance with this title, which remain uncalled for and unpaid at the conclusion of the state trust company's voluntary liquidation, shall be transmitted to the director and shall be deposited by him or her in a bank to the director's credit in trust for the benefit of any persons entitled thereto, and shall be paid by the director to such persons upon receipt of evidence, reasonably satisfactory to the director, of such persons' rights to such funds. (3) All moneys so deposited remaining unclaimed for two years after deposit shall escheat to the state for the benefit of the state financial literacy and education programs as authorized by RCW 43.320.150 and administered by the department or, in the absence of such programs, as otherwise directed by the state treasurer. (4) It shall not be necessary to have the escheat adjudged in a suit or action.
RCW 30B.12.140 — Washington Code / Title 30B / Chapter 12 / Section 140
RCW 30B.12.140: Fidelity bonds—Liability insurance—Additional insurance—Authority of director.
Status: in_force

(1) Except as otherwise permitted by the director under specified terms and conditions, the board of directors of a state trust company shall direct and require good and sufficient fidelity bonds and liability insurance, issued by a company authorized to engage in the insurance business in the state of Washington, covering the state trust company and all of its active directors, officers, managers, and employees. Bonds or coverage shall provide for indemnity to the state trust company on account of any losses sustained by it as the result of any dishonest, fraudulent, or criminal act or omission committed or omitted by directors, officers, managers, and employees, acting independently or in collusion or combination with any person. Such bonds or coverage may be individual, schedule, or blanket form, and premiums shall be paid by the state trust company. (2) Except as otherwise permitted by the director under specified terms and conditions, the board of directors of a state trust company shall direct and require good and sufficient liability insurance, including errors and omissions coverage, for the negligent or reckless acts and omissions of directors, officers, fiduciary managers, and employees. Such coverage shall be paid by the state trust company. (3) Except as otherwise permitted by the director under specified terms and conditions, the directors shall also direct and require suitable insurance protection to the state trust company, as necessary, against burglary, robbery, theft, and other similar insurance hazards to which the state trust company may be exposed in the operations of its business on the premises or elsewhere. (4) The directors shall be responsible for prescribing at least once in each year the amount of such bonds or policies and the sureties or underwriters to be engaged, after giving due consideration to all known elements and factors constituting known risks or hazards. Such action of the directors shall be recorded in the board minutes. (5) The director may by rule prescribe requirements for bond and insurance coverage that are more specific and derogation of the provision of subsections (1) through (4) of this section if the director determines that such a rule is necessary to conform to the market availability of certain bond and insurance coverages.
RCW 30B.08.070 — Washington Code / Title 30B / Chapter 08 / Section 070
RCW 30B.08.070: Application of general business corporation laws.
Status: in_force

(1) A state trust company shall be deemed a distinct type of corporation or limited liability trust company whose certificate of authority may be granted, conditioned, canceled, or revoked only by the department. (2) Title 23B RCW applies to a state trust company in corporation form and chapter 25.15 RCW in limited liability company form to the extent not inconsistent with this title or the business of a state trust company, except that: (a) Any reference to the secretary of state means the director unless the context requires otherwise; and (b) The right of shareholders or participants to cumulative voting in the election of directors or managers exists only if granted by the state trust company's articles of incorporation or limited liability company agreement. (3) Unless expressly authorized by this title or a rule of the department, a state trust company may not take an action authorized by Title 23B RCW or chapter 25.15 RCW regarding its corporate status, capital structure, or a matter of corporate governance, of the type for which Title 23B RCW or chapter 25.15 RCW would require a filing with the secretary of state if the state trust company were a business corporation, without first submitting the filing to the director for the same purposes for which it otherwise would be required to be submitted to the secretary of state. (4) The department may adopt rules to limit or refine the applicability of subsection (2) of this section to a state trust company or to alter or supplement the procedures and requirements of Title 23B RCW or chapter 25.15 RCW applicable to an action taken under this chapter.
RCW 30A.42.105 — Washington Code / Title 30A / Chapter 42 / Section 105
RCW 30A.42.105: Power to make loans and to guarantee obligations.
Status: in_force

An approved branch of an alien bank shall have the same power to make loans and guarantee obligations as a state bank chartered pursuant to this title: PROVIDED, HOWEVER, That the base for computing the applicable loan limitation shall be the entire capital and surplus of the alien bank. The director may adopt rules limiting the amount of loans to full-time employees of the branch.
RCW 30A.44.040 — Washington Code / Title 30A / Chapter 44 / Section 040
RCW 30A.44.040: Notice of taking possession.
Status: in_force

Upon taking possession of any bank, the director shall forthwith give written notice thereof to all persons having possession of any assets of such corporation. No person knowing of the taking of such possession by the director shall have a lien or charge for any payment thereafter advanced or clearance thereafter made or liability thereafter incurred against any of the assets of such corporation.
RCW 30A.12.190 — Washington Code / Title 30A / Chapter 12 / Section 190
RCW 30A.12.190: General penalty—Effect of conviction.
Status: in_force

(1) Every person who shall knowingly violate, or knowingly aid or abet the violation of any provision of RCW 30A.04.010 , 30A.04.030 , 30A.04.050 , 30A.04.060 , 30A.04.070 , 30A.04.075 , 30A.04.111 , 30A.04.120 , 30A.04.130 , 30A.04.180 , 30A.04.210 , 30A.04.220 , 30A.04.280 , 30A.04.300 , 30A.08.010 , 30A.08.020 , 30A.08.030 , 30A.08.040 , 30A.08.050 , 30A.08.060 , 30A.08.080 , 30A.08.090 , 30A.08.140 , 30A.08.150 , * 30A.08.160 , 30A.08.180 , 30A.08.190 , 30A.12.010 , 30A.12.020 , 30A.12.030 , 30A.12.060 , 30A.12.070 , 30A.12.130 , 30A.12.180 , 30A.12.190 , 30A.16.010 , 30A.20.060 , 30A.44.010 , 30A.44.020 , 30A.44.030 , 30A.44.040 , 30A.44.050 , 30A.44.060 , 30A.44.070 , 30A.44.080 , 30A.44.090 , 30A.44.100 , 30A.44.130 , 30A.44.140 , 30A.44.150 , 30A.44.160 , 30A.44.170 , 30A.44.240 , 30A.44.250 , 43.320.060 , 43.320.070 , 43.320.080 , and 43.320.100 , and any director, officer, or employee of a bank or holding company who fails to perform any act which it is therein made his or her duty to perform, shall be guilty of a misdemeanor. (2) A director, officer, or employee of a bank or holding company who has been convicted for the violation of the banking laws 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, or employee of any bank, trust company, or holding company organized and existing under the laws of this state, or of any other depository institution, trust company, bank holding company, thrift holding company, or financial holding company doing business in this state.
RCW 30B.04.050 — Washington Code / Title 30B / Chapter 04 / Section 050
RCW 30B.04.050: Persons subject to the requirement of a certificate of authority or approval under this title.
Status: in_force

(1) A person may not engage in unauthorized trust activity in this state. (2) As a condition of engaging in trust business in this state, an out-of-state trust institution is required to obtain approval from the director and is subject to all other requirements of chapter 30B.38 RCW. (3) As a condition of engaging in trust business in this state, a person, other than an out-of-state trust institution or an exempt person under RCW 30B.04.040 , is required to organize and obtain a certificate of authority as a state trust company pursuant to chapter 30B.08 RCW. (4) A person who violates the requirements of subsection (2) or (3) of this section, as applicable, engages in unauthorized trust activity and is subject to enforcement by the director as set forth in chapter 30B.10 RCW.
RCW 30A.04.465 — Washington Code / Title 30A / Chapter 04 / Section 465
RCW 30A.04.465: Violations or unsafe or unsound practices—Injunction to enforce temporary order.
Status: in_force

In the case of a violation or threatened violation of a temporary cease and desist order issued under RCW 30A.04.455 , the director may apply to the superior court of the county of the principal place of business of the bank for an injunction to enforce the order, and the court shall issue an injunction if it determines that there has been a violation or threatened violation.
RCW 30A.08.084 — Washington Code / Title 30A / Chapter 08 / Section 084
RCW 30A.08.084: Rights of holders of preferred or special classes of stock—Preference in dividends and liquidation.
Status: in_force

Notwithstanding any other provisions of law, whether relating to restriction upon the payment of dividends upon capital stock or otherwise, the holders of shares of preferred or special classes of stock shall be entitled to receive such dividends on the purchase price received by the bank for such stock as may be provided by the articles of incorporation or by the board of directors of the bank with the approval of the director. No dividends shall be declared or paid on common stock until cumulative dividends, if any, on the shares of preferred or special classes of stock shall have been paid in full; and, if the director takes possession of a bank for purposes of liquidation, no payments shall be made to the holders of the common stock until the holders of the shares of preferred or special classes of stock shall have been paid in full such amount as may be provided under the terms of said shares plus all accumulated dividends, if any.
RCW 30A.56.020 — Washington Code / Title 30A / Chapter 56 / Section 020
RCW 30A.56.020: Postponement of payments on deposits—Order—Posting.
Status: in_force

The director is hereby empowered, upon the written application of the directors of a bank, if in his or her judgment the circumstances warrant it, to authorize a bank to postpone, for a period of ninety days and for such further period or periods as he or she may deem expedient, the payment of such proportions or amounts of the demands of its depositors from time to time as he or she may deem necessary. The period or periods of postponement and the proportions or amounts of the demands to be deferred shall be determined by him or her according to the ability of the bank to pay withdrawals. By the regulations prescribed for deferred payments, the director may classify accounts and limit payments to depositors of the several classes differently. The director's orders, regulations and directions shall be in writing and be filed in his or her office, and copies thereof shall be delivered to the bank and be forthwith posted in a conspicuous place in the banking room.
RCW 30A.42.240 — Washington Code / Title 30A / Chapter 42 / Section 240
RCW 30A.42.240: Bureaus—Examinations.
Status: in_force

The director is empowered to examine the bureau operations of an alien bank whenever he or she deems it necessary. The director shall collect from such alien bank the estimated actual cost of such examination.
RCW 31.04.045 — Washington Code / Title 30A / Chapter 04 / Section 045
RCW 31.04.045: License—Application—Background checks—Fee—Surety bond.
Status: in_force

The director or the director's designee may take such action as provided for in this title to enforce, investigate, or examine persons covered by chapter 19.144 RCW.(1) Application for a license under this chapter must be made to the nationwide mortgage licensing system and registry or in the form prescribed by the director. The application must contain at least the following information: (a) The name and the business addresses of the applicant; (b) If the applicant is a partnership, limited liability company, or association, the name of every member; (c) If the applicant is a corporation, the name, residence address, and telephone number of each officer and director; (d) The street address, county, and municipality from which business is to be conducted; and (e) Such other information as the director may require by rule. (2) As part of or in connection with an application for any license under this section, or periodically upon license renewal, each officer, director, and owner applicant must furnish information concerning his or her identity, including fingerprints for submission to the Washington state patrol, the federal bureau of investigation, or any governmental agency or entity authorized to receive this information for a state and national criminal history background check; personal history; experience; business record; purposes; and other pertinent facts, as the director may reasonably require. As part of or in connection with an application for a license under this chapter, or periodically upon license renewal, the director is authorized to receive criminal history record information that includes nonconviction data as defined in RCW 10.97.030 . The department may only disseminate nonconviction data obtained under this section to criminal justice agencies. This section does not apply to financial institutions regulated under chapters 31.12 and 31.13 RCW and Titles 30A , 32 , and 33 RCW. (3) At the time of filing an application for a license under this chapter, each applicant shall pay to the director or through the nationwide mortgage licensing system and registry an investigation fee and the license fee in an amount determined by rule of the director to be sufficient to cover the director's costs in administering this chapter. (4) Each applicant must file and maintain a surety bond, approved by the director, executed by the applicant as obligor and by a surety company authorized to do a surety business in this state as surety, whose liability as such surety must not exceed in the aggregate the penal sum of the bond. The penal sum of the bond must be a minimum of thirty thousand dollars and based on the annual dollar amount of loans originated or residential mortgage loans serviced. The bond must run to the state of Washington as obligee for the use and benefit of the state and of any person or persons who may have a cause of action against the obligor under this chapter. The bond must be conditioned that the obligor as licensee will faithfully conform to and abide by this chapter and all the rules adopted under this chapter. The bond will pay to the state and any person or persons having a cause of action against the obligor all moneys that may become due and owing to the state and those persons under and by virtue of this chapter. The bond must be continuous and may be canceled by the surety upon the surety giving written notice to the director of its intent to cancel the bond. The cancellation is effective forty-five days after the notice is received by the director. In lieu of a surety bond, if the applicant is a Washington business corporation, the applicant may maintain unimpaired capital, surplus, and long-term subordinated debt in an amount that at any time its outstanding promissory notes or other evidences of debt (other than long-term subordinated debt) in an aggregate sum do not exceed three times the aggregate amount of its unimpaired capital, surplus, and long-term subordinated debt. The director may define qualifying "long-term subordinated debt" for purposes of this section. (5) The director may waive one or more requirements of this section or permit an applicant to submit other information in lieu of the required information.
RCW 30A.12.046 — Washington Code / Title 30A / Chapter 12 / Section 046
RCW 30A.12.046: Removal of delinquent officer or employee or prohibiting participation in bank affairs—Jurisdiction of courts in enforcement or issuance of orders, injunctions or judicial review.
Status: in_force

See RCW 30A.04.475 .
RCW 30A.12.044 — Washington Code / Title 30A / Chapter 12 / Section 044
RCW 30A.12.044: Removal of one or more directors of a bank or holding company—Effect upon quorum—Procedure.
Status: in_force

If at any time because of the removal of one or more directors under this chapter there shall be on the board of directors of a bank or holding company less than a quorum of directors, all powers and functions vested in or exercisable by the board shall vest in and be exercisable by the director or directors remaining until such time as there is a quorum on the board of directors. If all of the directors of a bank or holding company are removed under this chapter, the director shall appoint persons to serve temporarily as directors until such time as their respective successors take office.
RCW 30A.20.090 — Washington Code / Title 30A / Chapter 20 / Section 090
RCW 30A.20.090: Adverse claim to a deposit to be accompanied by court order or bond—Exceptions.
Status: in_force

Notice to any national bank, state bank, savings bank, or bank under the supervision of the director, doing business in this state of an adverse claim to a deposit standing on its books to the credit of any person may be disregarded without liability by said bank unless said adverse claimant shall also either procure a restraining order, injunction or other appropriate process against said bank from a court of competent jurisdiction in a cause therein instituted by him or her wherein the person to whose credit the deposit stands is made a party and served with summons or shall execute to said bank, in form and with sureties acceptable to it, a bond, in an amount which is double either the amount of said deposit or said adverse claim, whichever is the lesser, indemnifying said bank from any and all liability, loss, damage, costs and expenses, for and on account of the payment of such adverse claim or the dishonor of the check or other order of the person to whose credit the deposit stands on the books of said bank: PROVIDED, That where the person to whose credit the deposit stands is a fiduciary for such adverse claimant, and the facts constituting such relationship, and also the facts showing reasonable cause of belief on the part of said claimant that the said fiduciary is about to misappropriate said deposit, are made to appear by the affidavit of such claimant, the bank shall without liability refuse to deliver such property for a period of not more than five business days from the date that the bank received the adverse claimant's affidavit, without liability for the sufficiency or truth of the facts alleged in the affidavit, after which time the claim shall be treated as any other claim under this section. This section shall not apply to accounts subject to chapter 30A.22 RCW.
RCW 30A.32.010 — Washington Code / Title 30A / Chapter 32 / Section 010
RCW 30A.32.010: Membership in federal reserve system—Investment in stock of Federal Deposit Insurance Corporation.
Status: in_force

Any bank or mutual savings bank may become a member of the federal reserve system of the United States and to that end may comply with all laws of the United States and all rules, regulations and requirements promulgated pursuant thereto, including the investment of its funds in the stock of a federal reserve bank; and any bank or mutual savings bank, whether a member of the federal reserve system or not, may invest its funds in the stock of the Federal Deposit Insurance Corporation created by the act of congress approved June 16, 1933, and may participate in the insurance of bank deposits and obligate itself for the cost of such participation by assessments or otherwise in accordance with the laws of the United States.
RCW 30A.46.090 — Washington Code / Title 30A / Chapter 46 / Section 090
RCW 30A.46.090: Authority of director.
Status: in_force

If the director determines to act under authority of this chapter, the sequence of his or her acts and proceedings shall be as set forth in this chapter. However, it is the purpose and substance of this chapter to authorize administrative discretion — to allow the director administrative discretion in the event of unsound banking operations — and in furtherance of that purpose the director is hereby authorized to proceed with regulation either under this chapter or under any other applicable provisions of law or under this chapter in connection with other law, either as such law is now existing or is hereinafter enacted, and it is so provided.
RCW 30A.26.150 — Washington Code / Title 30A / Chapter 26 / Section 150
RCW 30A.26.150: Transitional provision.
Status: in_force

This chapter applies to: (1) A special deposit made under an account agreement executed on or after July 1, 2024; and (2) A deposit made under an account agreement executed before July 1, 2024, if: (a) All parties entitled to amend the account agreement agree to make the deposit a special deposit governed by this chapter; and (b) The special deposit referenced in the amended account agreement satisfies RCW 30A.26.040 .
RCW 30A.56.040 — Washington Code / Title 30A / Chapter 56 / Section 040
RCW 30A.56.040: Deposits received during postponement.
Status: in_force

Deposits received during a period of postponement and for sixty days thereafter shall be kept separate from other assets of the bank, shall not draw interest, shall not be loaned or invested except by depositing with reserve banks or investing in liquid securities approved by the director, and shall be withdrawable upon demand. If during a postponement of payments, or at the expiration thereof, the director shall take charge of the bank for liquidation, deposits made during the period of postponement shall be deemed trust funds and be repaid to the depositors forthwith.
RCW 30A.42.250 — Washington Code / Title 30A / Chapter 42 / Section 250
RCW 30A.42.250: Temporary facilities at trade fairs, etc.
Status: in_force

An alien bank may operate temporary facilities at trade fairs or other commercial events of short duration without first obtaining the approval of the director: PROVIDED, That the activities of such temporary facility are limited solely to the dissemination of information: AND PROVIDED FURTHER, If an alien bank engages in such activity, it shall notify the director in writing prior to opening of the nature and location of such facility. The director is empowered to investigate the operation of such temporary facility if he or she deems it necessary, and to collect from the alien bank the estimated actual cost thereof.
RCW 30A.56.080 — Washington Code / Title 30A / Chapter 56 / Section 080
RCW 30A.56.080: Failure to pay in excess of plan, effect.
Status: in_force

The failure of a bank operating under such a plan to pay to a creditor at any time a sum greater than the plan then requires, shall not constitute a default nor authorize or require the director to take charge of or liquidate the bank nor entitle the creditor to maintain an action against the bank.
RCW 30A.12.010 — Washington Code / Title 30A / Chapter 12 / Section 010
RCW 30A.12.010: Directors—Election—Meetings—Oath—Vacancies.
Status: in_force

Every bank shall be managed by not less than five directors, who need not be residents of this state. Directors shall be elected by the stockholders and hold office for such term as is specified in the articles of incorporation, not exceeding three years, and until their successors are elected and have qualified. In the first instance the directors shall be those named in the articles of incorporation and afterwards, those elected at the annual meeting of the stockholders to be held at least once each year on a day to be specified by the bank's bylaws. Shareholders may not cumulate their votes unless the articles of incorporation specifically so provide. If for any cause no election is held at that time, it may be held at an adjourned meeting or at a subsequent meeting called for that purpose in the manner prescribed by the corporation's bylaws. The directors shall meet at least once each quarter and whenever required by the director. A majority of the then serving board of directors shall constitute a quorum for the transaction of business. At all stockholders' meetings, each share shall be entitled to one vote, unless the articles of incorporation provide otherwise. Any stockholder may vote in person or by written proxy. Each director, so far as the duty devolves upon him or her, shall diligently and honestly administer the affairs of such corporation and shall not knowingly violate or willingly permit to be violated any provision of law applicable to such corporation. Vacancies in the board of directors shall be filled by the board.
RCW 30A.43.005 — Washington Code / Title 30A / Chapter 43 / Section 005
RCW 30A.43.005: Finding—Definition of "off-premises electronic facilities."
Status: in_force

The legislature finds that the establishment and operation of off-premises electronic facilities, inside and outside the state of Washington, and the participation by financial institutions in arrangements for the sharing of such facilities, facilitates the delivery of financial services to the citizens of the state of Washington. The term "off-premises electronic facilities" includes, without limitation, automated teller machines, cash-dispensing machines, point-of-sale terminals, and merchant-operated terminals.
RCW 30A.12.100 — Washington Code / Title 30A / Chapter 12 / Section 100
RCW 30A.12.100: Destroying or secreting records—Penalty.
Status: in_force

Every officer, director, or employee or agent of any bank or holding company who, for the purpose of concealing any fact or suppressing any evidence against himself or herself, or against any other person, abstracts, removes, mutilates, destroys or secretes any paper, book or record of any bank or holding company, or of the director, or of anyone connected with his or her office, is guilty of a class B felony punishable according to chapter 9A.20 RCW.
RCW 30A.12.230 — Washington Code / Title 30A / Chapter 12 / Section 230
RCW 30A.12.230: Immunity of shareholders of bank insured by the federal deposit insurance corporation.
Status: in_force

The shareholders of a banking corporation organized under the laws of this state and the deposits of which are insured by the federal deposit insurance corporation shall not be liable for any debts or obligations of the bank.
RCW 30B.12.110 — Washington Code / Title 30B / Chapter 12 / Section 110
RCW 30B.12.110: Shareholders—Actions authorized without meetings—Written consent.
Status: in_force

(1) Any action required by this title to be taken at a meeting of the shareholders of a state trust company, or any action that may be taken at a meeting of such shareholders, may be taken without a meeting if a consent in writing, setting forth the action so taken, is signed by all of the shareholders entitled to vote with respect to the subject matter thereof. (2) The consent has the same force and effect as a unanimous vote of shareholders and may be stated as such in any articles or documents filed under this title.
RCW 30A.04.380 — Washington Code / Title 30A / Chapter 04 / Section 380
RCW 30A.04.380: Investment in paid-in capital stock and surplus of banks or corporations engaged in international or foreign banking.
Status: in_force

Any bank may invest an amount not exceeding ten per centum of its paid-in capital stock and surplus in the stock of one or more banks or corporations chartered under the laws of the United States, or of any state thereof, and principally engaged in international or foreign banking, or banking in a dependency or insular possession of the United States, either directly or through the agency, ownership or control of local institutions in foreign countries, or in such dependencies or insular possessions.
RCW 30B.53.070 — Washington Code / Title 30B / Chapter 53 / Section 070
RCW 30B.53.070: Valuation of assets—Books of merging trust company.
Status: in_force

Without approval by the director, no asset shall be carried on the books of the resulting trust company at a valuation higher than that on the books of the merging trust company at the time of its last examination by a state trust examiner before the effective date of the merger or conversion.
RCW 30B.53.100 — Washington Code / Title 30B / Chapter 53 / Section 100
RCW 30B.53.100: Acquisition of control of state trust company—Disapproval by director—Change of officers.
Status: in_force

(1) The director may disapprove the acquisition of a state trust company within thirty days after the filing of a complete application pursuant to RCW 30B.53.090 or an extended period not exceeding an additional fifteen days if: (a) The poor financial condition of any acquiring person might jeopardize the financial stability of the state trust company or might prejudice the interests of the state trust company's shareholders or the trustors or beneficiaries of trusts in which the state trust company is a trustee or investment advisor; (b) The plan or proposal of the acquiring person to liquidate the state trust company, to sell its assets or transfer its fiduciary assets, to merge it with any person, or to make any other major change in its business or corporate structure or management that is not fair and reasonable to the state trust company's shareholders or the trustors or beneficiaries of trusts in which the state trust company is a trustee or investment advisor; (c) The fiduciary and other business experience and integrity of any acquiring person who would control the operation of the state trust company indicates that approval would not be in the interest of the state trust company's shareholders or the trustors or beneficiaries of trusts in which the state trust company is a trustee or investment advisor; (d) The information provided by the application is insufficient for the director to make a determination or there has been insufficient time to verify the information provided and conduct an examination of the qualification of the acquiring person; or (e) The acquisition would not be in the public interest. (2) An acquisition may be made prior to expiration of the disapproval period if the director issues written notice of intent not to disapprove the action. (3) The director shall set forth the basis for disapproval of any proposed acquisition in writing and shall provide a copy of such findings and order to the applicants and to the state trust company involved. Such findings and order shall not be disclosed to any other person and shall not be subject to public disclosure under chapter 42.56 RCW unless the findings or order are appealed pursuant to chapter 34.05 RCW. (4) Whenever such a change of control occurs, each party to the transaction shall report promptly to the director any changes or replacement of its chief executive officer, managers, or any director, which occurs in the following twelve-month period, including in its report a statement of the past and present business and professional affiliations of the new chief executive officer, managers, or directors.
RCW 30A.22.150 — Washington Code / Title 30A / Chapter 22 / Section 150
RCW 30A.22.150: Payment to minors and incompetents.
Status: in_force

Financial institutions may make payments of funds on deposit in an account established by a depositor who is a minor or incompetent without regard to whether it has actual knowledge of the minority or incompetency of the depositor unless the branch of the financial institution at which the account is maintained has received written notice to withhold payment to the minor or incompetent by the guardian of his or her estate and had a reasonable opportunity to act upon the notice.
RCW 30A.08.140 — Washington Code / Title 30A / Chapter 08 / Section 140
RCW 30A.08.140: Corporate powers of banks.
Status: in_force

Upon the issuance of a certificate of authority to a bank, the persons named in the articles of incorporation and their successors shall thereupon become a corporation and shall have power: (1) To adopt and use a corporate seal; (2) To have perpetual succession; (3) To make contracts; (4) To sue and be sued, the same as a natural person; (5) To elect directors who, subject to the provisions of the corporation's bylaws, shall have power to appoint such officers as may be necessary or convenient, to define their powers and duties and to dismiss them at pleasure, and who shall also have general supervision and control of the affairs of such corporation; (6) To make and alter bylaws, not inconsistent with its articles of incorporation or with the laws of this state, for the administration and regulation of its affairs; (7) To invest and reinvest its funds in marketable obligations evidencing the indebtedness of any person, copartnership, association, or corporation in the form of bonds, notes, or debentures commonly known as investment securities except as may by regulation be limited by the director; (8) To discount and negotiate promissory notes, drafts, bills of exchange and other evidences of debt, to receive deposits of money and commercial paper, to lend money secured or unsecured, to issue all forms of letters of credit, to buy and sell bullion, coins and bills of exchange; (9) To take and receive as bailee for hire upon terms and conditions to be prescribed by the corporation, for safekeeping and storage, jewelry, plate, money, specie, bullion, stocks, bonds, mortgages, securities and valuable paper of any kind and other valuable personal property, and to rent vaults, safes, boxes and other receptacles for safekeeping and storage of personal property; (10) If the bank be located in a city of not more than five thousand inhabitants, to act as insurance agent. A bank exercising this power may continue to act as an insurance agent notwithstanding a change of the population of the city in which it is located; (11) To accept drafts or bills of exchange drawn upon it having not more than six months sight to run, which grow out of transactions involving the importation or exportation of goods; or which grow out of transactions involving the domestic shipment of goods, providing shipping documents conveying or securing title are attached at the time of acceptance; or which are secured at the time of acceptance by a warehouse receipt or other such document conveying or securing title to readily marketable staples. No bank shall accept, either in a foreign or a domestic transaction, for any one person, company, firm or corporation, to an amount equal at any one time in the aggregate to more than ten percent of its paid up and unimpaired capital stock and surplus unless the bank is secured by attached documents or by some other actual security growing out of the same transaction as the acceptance; and no bank shall accept such bills to an amount equal at any time in the aggregate to more than one-half of its paid up and unimpaired capital stock and surplus: PROVIDED, HOWEVER, That the director, under such general regulations applicable to all banks irrespective of the amount of capital or surplus, as the director may prescribe may authorize any bank to accept such bills to an amount not exceeding at any time in the aggregate one hundred percent of its paid up and unimpaired capital stock and surplus: PROVIDED, FURTHER, That the aggregate of acceptances growing out of domestic transactions shall in no event exceed fifty percent of such capital stock and surplus; (12) To accept drafts or bills of exchange drawn upon it, having not more than three months sight to run, drawn under regulations to be prescribed by the director by banks or bankers in foreign countries or dependencies or insular possessions of the United States for the purpose of furnishing dollar exchange as required by the usages of trade in the respective countries, dependencies or insular possessions. Such drafts or bills may be acquired by banks in such amounts and subject to such regulations, restrictions and limitations as may be provided by the director: PROVIDED, HOWEVER, That no bank shall accept such drafts or bills of exchange referred to in this subdivision for any one bank to an amount exceeding in the aggregate ten percent of the paid up and unimpaired capital and surplus of the accepting bank unless the draft or bill of exchange is accompanied by documents conveying or securing title or by some other adequate security, and that no such drafts or bills of exchange shall be accepted by any bank in an amount exceeding at any time the aggregate of one-half of its paid up and unimpaired capital and surplus: PROVIDED FURTHER, That compliance by any bank which is a member of the federal reserve system of the United States with the rules, regulations and limitations adopted by the federal reserve board thereof with respect to the acceptance of drafts or bills of exchange by members of such federal reserve system shall be a sufficient compliance with the requirements of this subdivision or paragraph relating to rules, regulations and limitations prescribed by the director; (13) To have and exercise all powers necessary or convenient to effect its purposes; (14) To serve as custodian of an individual retirement account and pension and profit sharing plans qualified under internal revenue code section 401(a), the assets of which are invested in deposits of the bank or are invested, pursuant to directions from the customer owning the account, in securities traded on a national securities market: PROVIDED, That the bank shall accept no investment responsibilities over the account unless it is granted trust powers by the director; (15) To be a limited partner in a limited partnership that engages in only such activities as are authorized for the bank.
RCW 30B.46.110 — Washington Code / Title 30B / Chapter 46 / Section 110
RCW 30B.46.110: Plenary authority of director—Flexibility in use of remedies.
Status: in_force

(1) If the director determines to act under authority of this chapter, the sequence of his or her acts and proceedings shall be as set forth in this chapter. (2) However, the director may, in the exercise of broad administrative discretion, proceed in lieu of this chapter and pursuant to other authority including, without limitation, notice and adjudication under chapter 30B.10 RCW or by means of seeking a direct judicial remedy in superior court.
RCW 30A.22.230 — Washington Code / Title 30A / Chapter 22 / Section 230
RCW 30A.22.230: Authority to charge a customer for furnishing items or copies of items.
Status: in_force

A financial institution may charge a customer for furnishing items or copies of items as defined in RCW 62A.4-104 , in excess of the number of free items or copies of items provided for in RCW 62A.4-406 (b), fifty cents per copy furnished plus fees for retrieval at a rate not to exceed the rate assessed when complying with summons issued by the Internal Revenue Service.
RCW 30A.26.060 — Washington Code / Title 30A / Chapter 26 / Section 060
RCW 30A.26.060: Payment to beneficiary by bank.
Status: in_force

(1) Unless the account agreement provides otherwise, the bank is obligated to pay a beneficiary if there are sufficient actually and finally collected funds in the balance of the special deposit. (2) Except as provided in subsection (3) of this section, the obligation to pay the beneficiary is excused if the funds available in the special deposit are insufficient to cover such payment. (3) Unless the account agreement provides otherwise, if the funds available in the special deposit are insufficient to cover an obligation to pay a beneficiary, a beneficiary may elect to be paid the funds that are available or, if there is more than one beneficiary, a pro rata share of the funds available. Payment to the beneficiary making the election under this subsection discharges the bank's obligation to pay a beneficiary and does not constitute an accord and satisfaction with respect to another person obligated to the beneficiary. (4) Unless the account agreement provides otherwise, the obligation of the bank obligated to pay a beneficiary is immediately due and payable. (5) The bank may discharge its obligation under this section by: (a) Crediting another transaction account of the beneficiary; or (b) Taking other action that: (i) Is permitted under the account agreement for the bank to obtain a discharge; or (ii) Otherwise would constitute a discharge under law. (6) If the bank obligated to pay a beneficiary has incurred an obligation to discharge the obligation of another person, the obligation of the other person is discharged if action by the bank under subsection (5) of this section would constitute a discharge of the obligation of the other person under law that determines whether an obligation is satisfied.
RCW 30A.04.005 — Washington Code / Title 30A / Chapter 04 / Section 005
RCW 30A.04.005: Legislative declarations.
Status: in_force

The legislature declares that: (1) Banking institutions and trust companies provide essential and valuable fiduciary management services to consumers, businesses, and nonprofit organizations in the state of Washington; (2) There is a critical public need to encourage and promote the revitalization and growth of the state's financial sector and realize its potential as an alternative global financial services hub; (3) The fulfillment of this potential can best be achieved by taking measures to: (a) Clarify prudential standards of professional fiduciary management to provide assurances to state, national, and international owners and managers of wealth; (b) Promote flexibility in the management of asset portfolios to respond to ever-changing global conditions; and (c) Provide certainty and clear expectations for owners of wealth, asset managers, and their respective advisors; (4) Banking institutions and nondepositary trust companies in the state of Washington will be better prepared to continue providing professional fiduciary management services effectively if laws of the state's banking institutions and nondepositary trust companies are modernized, clarified, reorganized and, with respect to some situations, amended; (5) There is a need for improved services and reduced costs for trust institution clients and customers and other consumers in this state through modernization of state law to clarify and thereby promote the delegation by trust institutions of fiduciary functions to qualified third-party professionals, to authorize clients to designate any trust institution to act for them, and to protect the public from excessive fees or undisclosed conflicts of interest of trust institutions and their affiliates; (6) Properly capitalized and professionally managed trusts and trust companies serving only family members and their affiliated entities, which operate privately and do not hold themselves out to, nor provide services to, the general public, should continue to operate without the necessity of being chartered or regulated by the department of financial institutions; (7) The authority of the department of financial institutions needs to be clarified, preserved, and assured as the primary instrument of assuring the safety and soundness of banking institutions and nondepositary trust companies acting as fiduciaries and engaging in trust business in this state; (8) Nondepository trust companies should continue to act as fiduciaries and otherwise engage in trust business in this state, so long as they are properly capitalized, competently managed by persons of integrity, and supervised by the department of financial institutions so as to ensure that such trust companies are operated in compliance with law, in a safe and sound manner, and in a manner which protects trust settlors, trust beneficiaries, and the general public in this state; and (9) The creation of a comprehensive trust institutions act serves the convenience and advantage of Washington state trust settlors and trust beneficiaries, and the state's general public, and preserves and maintains the fairness of competition and parity between Washington state-chartered banking institutions and trust companies, and federally chartered and out-of-state state-chartered banking institutions and trust companies.
RCW 30B.10.100 — Washington Code / Title 30B / Chapter 10 / Section 100
RCW 30B.10.100: Effect of final orders against officers, directors, employees, and agents.
Status: in_force

A present or former director, officer, manager, employee, or agent of a state trust institution or affiliate, or any other person against whom there is outstanding an effective final order under authority of this chapter which has been duly served is guilty of a gross misdemeanor punishable under chapter 9A.20 RCW, if such person thereafter: (1) Participates in any manner in the conduct of the affairs of a state trust institution or affiliate; (2) 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 state trust institution or affiliate; (3) Without the prior approval of the department, votes for a director; (4) Serves or acts as a director, officer, manager, employee, or agent of any depository institution, trust company, or affiliate of a depository institution or trust company doing business in Washington state.
RCW 30A.04.570 — Washington Code / Title 30A / Chapter 04 / Section 570
RCW 30A.04.570: Reorganization as subsidiary of bank holding company—Approval of director—Certificate of reorganization—Exchange of shares.
Status: in_force

The reorganization and exchange authorized by RCW 30A.04.550 through 30A.04.570 shall become effective as follows: (1) If the board of directors and shareholders of the state banking corporation and the board of directors of the acquiring corporation approve the plan of reorganization, then both corporations shall apply for the approval of the director, providing such information as the director by rule may prescribe. (2) If the director approves the reorganization, the director shall issue a certificate of reorganization to the state banking corporation. (3) Upon the issuance of a certificate of reorganization by the director, or on such later date as shall be provided for in the plan of reorganization, the shares of the state banking corporation shall be deemed to be exchanged in accordance with the plan of reorganization, subject to the rights of dissenters under RCW 30A.04.560 and 30A.04.565 .
RCW 30B.04.030 — Washington Code / Title 30B / Chapter 04 / Section 030
RCW 30B.04.030: Persons authorized to act as a fiduciary.
Status: in_force

Subject to the conditions, restrictions, limitations, and requirements of this title, the following persons are authorized trust institutions in Washington state: (1) A state trust company with a certificate of authority from the director to exercise the powers of a state trust company pursuant to chapter 30B.08 RCW; (2) A state bank under Title 30A RCW exercising trust business powers under the authority of the director; (3) A state bank under Title 32 RCW exercising trust business powers under the authority of the director; (4) A *state savings association organized under Title 33 RCW exercising trust business powers under authority of Title 33 RCW as permitted by the director; (5) A national bank authorized by the comptroller of the currency to act as a fiduciary in this state pursuant to 12 U.S.C. Sec. 92a; (6) A federally chartered savings bank or *savings association authorized by the comptroller of the currency to act as a fiduciary in this state; (7) An out-of-state state-chartered bank with a branch in this state established or maintained pursuant to and with trust powers under applicable law of a home state; (8) An out-of-state trust institution with a trust office authorized by the director pursuant to this title; (9) An alien bank under chapter 30A.42 RCW authorized by the director to act as a fiduciary or engage in trust business in this state pursuant to this title; (10) A private trust or private trust company exempt from the regulation of the department under chapter 30B.64 RCW; or (11) An exempt person under this title pursuant to RCW 30B.04.040 .
RCW 30A.22.041 — Washington Code / Title 30A / Chapter 22 / Section 041
RCW 30A.22.041: Definitions.
Status: in_force

The definitions in this section apply throughout this section and RCW 30A.22.240 and 30A.22.245 . (1) "Customer" means any person, partnership, limited partnership, corporation, trust, or other legal entity that is transacting or has transacted business with a financial institution, that is using or has used the services of an institution, or for which a financial institution has acted or is acting as a fiduciary. (2) "Financial institution" means state and national banks and trust companies, state and federal savings banks, state and federal savings and loan associations, and state and federal credit unions. (3) "Law enforcement officer" means an employee of a public law enforcement agency organized under the authority of a county, city, or town and designated to obtain deposit account information by the chief law enforcement officer of that agency.
RCW 30A.26.005 — Washington Code / Title 30A / Chapter 26 / Section 005
RCW 30A.26.005: Short title—2024 c 23.
Status: in_force

Chapter 23, Laws of 2024 may be known and cited as the uniform special deposits act.
RCW 30A.04.007 — Washington Code / Title 30A / Chapter 04 / Section 007
RCW 30A.04.007: Notice—Use of internet—Rules.
Status: in_force

(1) Notwithstanding any provisions of this title, wherever notice by publication is required by a bank, such notice may be undertaken by internet publication upon terms and conditions that the director may adopt by rule. (2) Notice to shareholders required under this title may be undertaken by electronic means in the same manner as permitted for general business corporations under RCW 23B.01.410 .
RCW 30A.36.050 — Washington Code / Title 30A / Chapter 36 / Section 050
RCW 30A.36.050: Not subject to assessments—Liability of holders.
Status: in_force

Such capital notes or debentures shall in no case be subject to any assessment. The holders of such capital notes or debentures shall not be held individually responsible, as such holders, for any debts, contracts or engagements of such institution, and as such holders, shall not be held liable for assessments to restore impairments in the capital of such institution.
RCW 30A.38.040 — Washington Code / Title 30A / Chapter 38 / Section 040
RCW 30A.38.040: Examinations of any branch of an out-of-state state bank—Reporting requirements for any branch of an out-of-state bank—Supervisory agreements—Joint examinations or enforcement actions—Assessments.
Status: in_force

(1) The director may make examinations of any branch in this state of an out-of-state state bank as the director deems necessary to determine whether the branch is being operated in compliance with the laws of this state or is conducting its activities in accordance with safe and sound banking practices. The provisions applicable to examinations and sharing of information of Washington state banks shall apply to these examinations. (2) The director may prescribe requirements for reports regarding any branches of an out-of-state bank that operates a branch in Washington pursuant to this chapter. The required reports shall be provided by the bank or by the bank supervisory agency having primary responsibility for the bank. Any reporting requirements prescribed by the director under this subsection shall be consistent with the reporting requirements applicable to Washington state banks and appropriate for the purpose of enabling the director to carry out his or her responsibilities under this chapter. (3) The director may enter into supervisory agreements with any bank supervisory agency that has concurrent jurisdiction over a Washington state bank or an out-of-state state bank operating a branch in this state pursuant to this chapter to engage the services of that agency's examiners at a reasonable rate of compensation, or to provide the services of the director's examiners to that agency at a reasonable rate of compensation. These contracts are exempt from the requirements of *chapter 39.29 RCW. The director also may enter into supervisory agreements with other appropriate bank supervisory agencies and the bank to prescribe the applicable laws governing powers and authorities, including but not limited to corporate governance and operational matters, of Washington branches of an out-of-state bank chartered by another state or out-of-state branches of a Washington state bank. The supervisory agreement may resolve conflict of laws among home and host states and specify the manner in which the examination, supervision, and application processes shall be coordinated among the home and host states. (4) The director may enter into joint examinations or joint enforcement actions with other bank supervisory agencies having concurrent jurisdiction over any branch in Washington of an out-of-state state bank or any branch of a Washington state bank in any host state. The director also may at any time take action independently if the director deems it necessary or appropriate to carry out his or her responsibilities under this chapter or to ensure compliance with the laws of this state. However, in the case of an out-of-state state bank, the director shall recognize the exclusive authority of the home state regulator over corporate governance and operational matters and the primary responsibility of the home state regulator with respect to safety and soundness matters, unless otherwise specified in the supervisory agreement executed pursuant to this section. (5) Each out-of-state state bank that maintains one or more branches in this state may be assessed and, if assessed, shall pay supervisory and examination fees in accordance with the laws of this state and rules of the director. The director is authorized to enter into agreements to share fees with other bank supervisory agencies or any organization affiliated with or representing one or more bank supervisory agencies.Before any such designation shall entitle the treasurer to make deposits in any financial institution, each financial institution so designated shall segregate eligible securities as collateral as provided by RCW 39.58.050 as now or hereafter amended.
RCW 30A.44.280 — Washington Code / Title 30A / Chapter 44 / Section 280
RCW 30A.44.280: Payment or acquisition of deposit liabilities by federal deposit insurance corporation—Not hindered by judicial review—Liability.
Status: in_force

The pendency of any proceedings for judicial review of the director's actions in taking possession and control of a bank and its assets for the purpose of liquidation shall not operate to defer, delay, impede, or prevent the payment or acquisition by the federal deposit insurance corporation of the deposit liabilities of the bank which are insured by the corporation. During the pendency of any proceedings for judicial review, the director shall make available to the federal deposit insurance corporation such facilities in or of the bank and such books, records, and other relevant data of the bank as may be necessary or appropriate to enable the corporation to pay out or to acquire the insured deposit liabilities of the bank. The federal deposit insurance corporation and its directors, officers, agents, and employees, and the director and his or her agents and employees shall be free from liability to the bank, its directors, stockholders, and creditors for or on account of any action taken in connection herewith.
RCW 30B.46.003 — Washington Code / Title 30B / Chapter 46 / Section 003
RCW 30B.46.003: Definitions.
Status: in_force

The definitions in this section apply throughout this chapter unless the context clearly requires otherwise. (1) "Corrective action measures" refers collectively to supervisory agreements, memoranda of understanding, supervisory directives, corrective action orders, and orders of conservatorship. (2) "Corrective action order" means a cease and desist order, consent order, order compelling action, or order of conservatorship, as prescribed by this chapter. (3) "Exceeded its powers" includes, without limitation, the following circumstances: (a) If a state trust company has engaged in unauthorized trust activity; (b) If a state trust company has refused to permit examination of its books, papers, accounts, records, or affairs by the director, assistant director, or examiners; or (c) If a state trust company has neglected or refused to observe an order of the director including, without limitation, an order to make good, within the time prescribed, any capital deficiency. (4) "Order of conservatorship" means an order specifically authorized under this chapter for the appointment for a conservatory of a state trust company. (5) "Supervisory agreement" or "memorandum of understanding" means a supervisory directive in which a state trust company has given its prior consent. (6) "Supervisory directive" means a supervisory directive in which the state trust company has not given its prior consent. (7) "Unsafe condition" shall mean and include, but not be limited to, any one or more of the following circumstances: (a) If a state trust company is less than adequately capitalized as determined by the director; (b) If a state trust company violates the applicable provisions of this title or any other law or regulation applicable to a state trust company in a manner that results or is likely to result in a significant increase in the state trust company's legal or operational risk; (c) If a state trust company conducts a fraudulent or questionable practice in the conduct of its business that endangers its reputation, beneficiaries, shareholders, or trustors, or threatens its solvency; (d) If a state trust company conducts its business in an unsafe or unsound manner; (e) If a state trust company engages in unauthorized trust activity; (f) If a state trust company violates any conditions of its certificate of authority or any agreement entered with the director; or (g) If a state trust company willfully fails to carry out any authorized instruction or direction of the director.
RCW 30A.38.080 — Washington Code / Title 30A / Chapter 38 / Section 080
RCW 30A.38.080: Application of Washington laws—Declaration of invalidity.
Status: in_force

(1) The laws of Washington applicable to Washington state banks regarding community reinvestment, consumer protection, fair lending, and the establishment of intrastate branches apply to any branch in Washington of an out-of-state national bank or out-of-state state bank to the same extent as Washington laws apply to a Washington state bank. In lieu of taking action directly against an out-of-state state bank to enforce compliance with these Washington laws on host state branches, the director may refer action to the home state regulator, but the director retains enforcement powers to ensure that compliance is satisfactory to the director. (2) Any host state branch of a Washington state bank shall comply with all applicable host state laws concerning community reinvestment, consumer protection, fair lending, and the establishment of intrastate branches. (3) In the event that the responsible federal chartering authority, pursuant to applicable federal law, or in the event a court of competent jurisdiction declares that any Washington state law is invalid with respect to an out-of-state or national bank, that Washington state law is also invalid with respect to Washington state banks and to host branches of out-of-state state banks to that same extent. The director may, from time to time, publish by rule Washington state laws that have been found invalidated pursuant to federal law and procedures. This subsection does not impair, in any manner, the authority of the state attorney general to enforce antitrust laws applicable to banks, bank holding companies, or affiliates of those banks or bank holding companies.
RCW 30B.10.150 — Washington Code / Title 30B / Chapter 10 / Section 150
RCW 30B.10.150: Notice of charges.
Status: in_force

(1) The director may issue and serve a notice of charges upon: (a) A state trust institution; (b) An affiliate of a state trust institution; (c) A director, officer, manager, employee, or agent of a state trust institution or its affiliate; or (d) Any other person subject to the jurisdiction of the department under this title including, without limitation, a person engaged in unauthorized trust activity. (2) Such notice of charges may be issued to and served upon any person or entity described in subsection (1) of this section whenever such person or entity: (a) Has engaged in an unsafe or unsound practice; (b) Has violated any provision of RCW 30B.10.050 ; or (c) Is planning, attempting, or currently conducting any act prohibited in (a) or (b) of this subsection. (3) The notice shall contain a statement of the facts constituting the acts or omissions specified in subsection (2) of this section. (4) The notice shall set a time and place at which a hearing will be held to determine whether the following remedies should be granted: (a) An order to cease and desist any of the acts or omissions specified in subsection (2) of this section; (b) An order compelling affirmative action to redress any of the acts or omissions specified in subsection (2) of this section; (c) An order imposing fines as authorized by RCW 30B.10.070 ; (d) Restitution to beneficiaries, trustors, or other aggrieved persons; (e) Costs and expenses related to investigation and enforcement, including attorney fees; and (f) Other remedies authorized by law.
RCW 30A.22.120 — Washington Code / Title 30A / Chapter 22 / Section 120
RCW 30A.22.120: Right to rely on form of account—Discharge of financial institutions.
Status: in_force

In making payments of funds deposited in an account, a financial institution may rely conclusively and entirely upon the form of the account and the terms of the contract of deposit at the time the payments are made. A financial institution is not required to inquire as to either the source or the ownership of any funds received for deposit to an account, or to the proposed application of any payments made from an account. Unless a financial institution has actual knowledge of the existence of dispute between depositors, beneficiaries, or other persons claiming an interest in funds deposited in an account, all payments made by a financial institution from an account at the request of any depositor to the account and/or the agent of any depositor to the account in accordance with this section and RCW 30A.22.140 , 30A.22.150 , 30A.22.160 , 30A.22.170 , 30A.22.180 , 30A.22.190 , 30A.22.200 , and 30A.22.220 shall constitute a complete release and discharge of the financial institution from all claims for the amounts so paid regardless of whether or not the payment is consistent with the actual ownership of the funds deposited in an account by a depositor and/or the actual ownership of the funds as between depositors and/or the beneficiaries of P.O.D. and trust accounts, and/or their heirs, successors, personal representatives, and assigns.
RCW 30A.22.180 — Washington Code / Title 30A / Chapter 22 / Section 180
RCW 30A.22.180: Payment to personal representatives.
Status: in_force

Financial institutions may pay any funds remaining on deposit in an account which belongs to a deceased depositor to the personal representative of the depositor's estate under any of the following circumstances: (1) When the decedent was the depositor on a single account; or (2) When the decedent was a depositor on a joint account without right of survivorship or the only surviving depositor on a joint account with right of survivorship, and has not designated a trust or P.O.D. account beneficiary of the decedent's interest, and the financial institution has received the proofs of death necessary to establish the deaths of the other depositors named on the account; or (3) When the decedent was a beneficiary of a P.O.D. or trust account and the financial institution has received proofs of death of the beneficiary and all depositors to the account who, pursuant to the terms of the contract of deposit, were required to predecease the beneficiary; or (4) When consent to the payment has been given in writing by all depositors and beneficiaries of the account; or (5) When so ordered or directed by a superior court of the state or other court having jurisdiction over the matter.
RCW 30A.22.902 — Washington Code / Title 30A / Chapter 22 / Section 902
RCW 30A.22.902: Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.
Status: in_force

For the purposes of this chapter, the terms spouse, marriage, marital, husband, wife, widow, widower, next of kin, and family shall be interpreted as applying equally to state registered domestic partnerships or individuals in state registered domestic partnerships as well as to marital relationships and married persons, and references to dissolution of marriage shall apply equally to state registered domestic partnerships that have been terminated, dissolved, or invalidated, to the extent that such interpretation does not conflict with federal law. Where necessary to implement chapter 521, Laws of 2009, gender-specific terms such as husband and wife used in any statute, rule, or other law shall be construed to be gender neutral, and applicable to individuals in state registered domestic partnerships.
RCW 30B.46.080 — Washington Code / Title 30B / Chapter 46 / Section 080
RCW 30B.46.080: Request for review of action—Stay of action—Orders subject to review.
Status: in_force

(1) During the period of the supervisory direction or period of conservatorship, as applicable, the state trust company may request the director to review an action taken or proposed to be taken by a representative under a supervisory directive or by the conservator, specifying that the action complained of is believed not to be in the best interest of the state trust company. (2) A request made under subsection (1) of this section shall stay the action of the representative or conservator pending review of such action by the director. (3) An order by the director pursuant to this section, following the review of an action or proposed action of the representative or conservator, shall be subject to judicial review in accordance with RCW 30B.10.180 .
RCW 30A.26.040 — Washington Code / Title 30A / Chapter 26 / Section 040
RCW 30A.26.040: Requirements for special deposit.
Status: in_force

A deposit is a special deposit if it is: (1) A deposit of funds in a bank under an account agreement; (2) For the benefit of at least two beneficiaries, one or more of which may be a depositor; (3) Denominated in a medium of exchange that is currently authorized or adopted by a domestic or foreign government; (4) For a permissible purpose stated in the account agreement; and (5) Subject to a contingency.
RCW 30A.42.170 — Washington Code / Title 30A / Chapter 42 / Section 170
RCW 30A.42.170: Advertising, status of federal insurance on deposits to be included—Gifts for new deposits.
Status: in_force

(1) An alien bank that advertises the services of its branch in the state of Washington shall indicate on all advertising materials whether or not deposits placed with its branch are insured by the federal deposit insurance corporation. (2) A branch shall not make gifts to a new deposit customer of a greater value than five dollars in total. The value of the gifts shall be the cost to the branch of acquiring said gift.
RCW 30B.12.080 — Washington Code / Title 30B / Chapter 12 / Section 080
RCW 30B.12.080: Reports of apparent crime.
Status: in_force

A trust company that is the victim of a robbery, has a shortage of corporate or fiduciary funds in excess of five thousand dollars, or is the victim of an apparent or suspected misapplication of its corporate or fiduciary funds or property in any amount by a director, manager, managing participant, officer, or employee shall report such robbery, shortages, or apparent or suspected misapplication to the director within forty-eight hours after the time it is discovered. The initial report may be oral if the report is promptly confirmed in writing. The trust company or a director, manager, managing participant, officer, employee, or agent is not subject to liability for defamation or another charge resulting from information supplied in the report.
RCW 30A.60.010 — Washington Code / Title 30A / Chapter 60 / Section 010
RCW 30A.60.010: Examinations—Investigation and assessment of performance record in meeting community credit needs.
Status: in_force

(1) In conducting an examination of a bank chartered under *Title 30 RCW, the director shall investigate and assess the record of performance of the bank in meeting the credit needs of the bank's entire community, including low and moderate-income neighborhoods. The director shall accept, in lieu of an investigation or part of an investigation required by this section, any report or document that the bank is required to prepare or file with one or more federal agencies by the act of Congress entitled the "Community Reinvestment Act of 1977" and the regulations promulgated in accordance with that act, to the extent such reports or documents assist the director in making an assessment based upon the factors outlined in subsection (2) of this section. (2) In making an investigation required under subsection (1) of this section, the director shall consider, independent of any federal determination, the following factors in assessing the bank's record of performance: (a) Activities conducted by the institution to ascertain credit needs of its community, including the extent of the institution's efforts to communicate with members of its community regarding the credit services being provided by the institution; (b) The extent of the institution's marketing and special credit related programs to make members of the community aware of the credit services offered by the institution; (c) The extent of participation by the institution's board of directors in formulating the institution's policies and reviewing its performance with respect to the purposes of the Community Reinvestment Act of 1977; (d) Any practices intended to discourage applications for types of credit set forth in the institution's community reinvestment act statement(s); (e) The geographic distribution of the institution's credit extensions, credit applications, and credit denials; (f) Evidence of prohibited discriminatory or other illegal credit practices; (g) The institution's record of opening and closing offices and providing services at offices; (h) The institution's participation, including investments, in local community and microenterprise development projects; (i) The institution's origination of residential mortgage loans, housing rehabilitation loans, home improvement loans, and small business or small farm loans within its community, or the purchase of such loans originated in its community; (j) The institution's participation in governmentally insured, guaranteed, or subsidized loan programs for housing, small businesses, or small farms; (k) The institution's ability to meet various community credit needs based on its financial condition, size, legal impediments, local economic condition, and other factors; (l) The institution's contribution of cash or in-kind support to local or statewide organizations that provide counseling, training, financing, or other services to small businesses; and (m) Other factors that, in the judgment of the director, reasonably bear upon the extent to which an institution is helping to meet the credit needs of its entire community. (3) The director shall include as part of the examination report, a summary of the results of the assessment required under subsection (1) of this section and shall assign annually to each bank a numerical community reinvestment rating based on a one through five scoring system. Such numerical scores shall represent performance assessments as follows: (a) Excellent performance: 1 (b) Good performance: 2 (c) Satisfactory performance: 3 (d) Inadequate performance: 4 (e) Poor performance: 5
RCW 30B.98.003 — Washington Code / Title 30B / Chapter 98 / Section 003
RCW 30B.98.003: Effective date—2014 c 37.
Status: in_force

See RCW 30A.04.902 .
RCW 30B.64.030 — Washington Code / Title 30B / Chapter 64 / Section 030
RCW 30B.64.030: Other exemptions not affected by chapter.
Status: in_force

The provisions of this chapter do not affect the exemptions for persons acting pursuant to RCW 30B.04.040 .
RCW 30B.44B.005 — Washington Code / Title 30B / Chapter 44B / Section 005
RCW 30B.44B.005: When director may take possession.
Status: in_force

(1) After the expiration of thirty days from the director's written notice to correct an unsafe condition of the state trust company, the director may take possession of the business and property of a state trust company to which this title is applicable whenever it appears that the state trust company: (a) Has violated the terms of its certificate of authority or any laws applicable thereto; (b) Is conducting its business in an unauthorized or unsafe manner; (c) Is in an unsafe or unsound condition to transact its business; (d) Has an impairment of its capital; (e) Has become otherwise insolvent; (f) Has neglected or refused to comply with the terms of a duly issued lawful order of the director; (g) Has refused, upon proper demand, to submit its records, affairs, and concerns for inspection and examination of a duly appointed or authorized examiner of the director; (h) Through its officers, has refused to be examined upon oath regarding its affairs; or (i) Has made a voluntary assignment of its assets to trustees. (2) Notwithstanding the notice requirement in subsection (1) of this section, the director may without notice seize and take immediate possession of a state trust company if it appears to the director that the conditions of the state trust company are so hazardous that they pose an imminent threat to the general public or the interests of the state trust company's clients.
RCW 30A.12.030 — Washington Code / Title 30A / Chapter 12 / Section 030
RCW 30A.12.030: Fidelity bonds—Casualty insurance.
Status: in_force

(1) Except as otherwise permitted by the director under specified terms and conditions, the board of directors of each bank shall direct and require good and sufficient surety company fidelity bonds issued by a company authorized to engage in the insurance business in the state of Washington on all active officers and employees, whether or not they draw salary or compensation, which bonds shall provide for indemnity to such bank, on account of any losses sustained by it as the result of any dishonest, fraudulent or criminal act or omission committed or omitted by them acting independently or in collusion or combination with any person or persons. Such bonds may be individual, schedule or blanket form, and the premiums therefor shall be paid by the bank. (2) The said directors shall also direct and require suitable insurance protection to the bank against burglary, robbery, theft and other similar insurance hazards to which the bank may be exposed in the operations of its business on the premises or elsewhere. The said directors shall be responsible for prescribing at least once in each year the amount or penal sum of such bonds or policies and the sureties or underwriters thereon, after giving due consideration to all known elements and factors constituting such risk or hazard. Such action shall be recorded in the minutes of the board of directors.
RCW 30A.42.180 — Washington Code / Title 30A / Chapter 42 / Section 180
RCW 30A.42.180: Approved agencies—Powers and activities.
Status: in_force

An approved agency of an alien bank may engage in the business of making loans and guaranteeing obligations for the financing of the international movement of goods and services and for all operational needs including working capital and short-term operating needs and for the acquisition of fixed assets. Other than such activities, such agency may engage only in the following activities: (1) Borrow funds from banks and other financial institutions; (2) Buy and sell foreign exchange; (3) Receive checks, bills, drafts, acceptances, notes, bonds, coupons, and other securities for collection abroad and collect such instruments in the United States for customers abroad; (4) Hold securities in safekeeping for, or buy and sell securities upon the order and for the risk of, customers abroad; (5) Act as paying agent for securities issued by foreign governments or other organizations organized under foreign law and not qualified under the laws of the United States, or any state or the District of Columbia to do business in the United States; (6) In order to prevent loss on debts previously contracted, an agency may acquire shares in a corporation: PROVIDED, That the shares are disposed of as soon as practical, but in no event later than two years from the date of acquisition; (7) Issue letters of credit and create acceptances; (8) In addition to the powers and activities expressly authorized by this section, an agency shall have the power to carry on such additional activities which are necessarily incidental to the activities expressly authorized by this section.
RCW 30A.04.610 — Washington Code / Title 30A / Chapter 04 / Section 610
RCW 30A.04.610: Directors, committees—Meetings authorized by conference telephone or similar communications equipment.
Status: in_force

Except as may be otherwise restricted by the articles of incorporation or bylaws, members of the board of directors or any committee designated by the board of directors may participate in a meeting of the board or committee by means of a conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other at the same time. Participation by such means shall constitute presence, in person, at a meeting.
RCW 30A.44.260 — Washington Code / Title 30A / Chapter 44 / Section 260
RCW 30A.44.260: Destruction of records after liquidation.
Status: in_force

Where any files, records, documents, books of account or other papers have been taken over and are in the possession of the director in connection with the liquidation of any insolvent banks or trust companies under the laws of this state, the director may, in his or her discretion at any time after the expiration of one year from the declaration of the final dividend, or from the date when such liquidation has been entirely completed, destroy any of the files, records, documents, books of account or other papers which may appear to the director to be obsolete or unnecessary for future reference as part of the liquidation and files of his or her office.
RCW 30A.22.170 — Washington Code / Title 30A / Chapter 22 / Section 170
RCW 30A.22.170: Payment to agents of depositors.
Status: in_force

Any funds on deposit in an account may be paid by a financial institution to or upon the order of any agent of any depositor. The contract of deposit or other document creating such agency may provide, in accordance with chapter 11.125 RCW, that any such agent's powers to receive payments and make withdrawals from an account continues in spite of, or arises by virtue of, the incompetency of a depositor, in which event the agent's powers to make payments and withdrawals from an account on behalf of a depositor is not affected by the incompetency of a depositor. Except as provided in this section, the authority of an agent to receive payments or make withdrawals from an account terminates with the death or incompetency of the agent's principal: PROVIDED, That a financial institution is not liable for any payment or withdrawal made to or by an agent for a deceased or incompetent depositor unless the financial institution making the payment or permitting the withdrawal had actual knowledge of the incompetency or death at the time payment was made.
RCW 30B.08.030 — Washington Code / Title 30B / Chapter 08 / Section 030
RCW 30B.08.030: Application for state trust company certificate of authority.
Status: in_force

(1) An application for a certificate of authority to become a state trust company must be made under oath and in the form required by the director and must be supported by information, data, records, and opinions of counsel that the director requires including, without limitation and as requested by the department, authorizations by the incorporators and any proposed officer, director, manager, or managing participant to perform third-party background checks on them, plus fingerprints of these persons obtained from acceptable fingerprinting authorities. (2) Consistent with RCW 30B.12.020 (1), the application to organize a state trust company must propose as members of the board of directors not less than five directors, managers, or managing participants, at least two of whom shall not be officers, 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 . (3) Prior to issuance of a certificate of authority by the department, the proposed members of the board of directors, as approved by the department, must each submit a declaration in conformity with RCW 30B.12.020 (5). (4) The application must be accompanied by all fees and deposits required by statute or by rule of the director. (5) The director shall issue a certificate of authority to a state trust company only on proof that one or more viable markets exist within or outside of Washington state that may be served in a profitable manner by the establishment of the proposed state trust company. In making such a determination, the director shall: (a) Examine the business plan which shall be submitted as part of the application for a certificate of authority to become a state trust company; and (b) Consider: (i) The market or markets to be served; (ii) Whether the proposed organizational and capital structure and amount of initial capitalization is adequate for the proposed business and location; (iii) Whether the anticipated volume and nature of business indicates a reasonable probability of success and profitability based on the market sought to be served; (iv) Whether the proposed officers, directors, and managers, or managing participants, as a group, have sufficient fiduciary experience, ability, standing, competence, trustworthiness, and integrity to justify a belief that the proposed state trust company will operate in compliance with law and that success of the proposed state trust company is probable; (v) Whether each principal shareholder or participant has sufficient experience, ability, standing, competence, trustworthiness, and integrity to justify a belief that the proposed state trust company will be free from improper or unlawful influence or interference with respect to the state trust company's operation in compliance with law; and (vi) Whether the organizers are acting in good faith. (6) The failure of an applicant to furnish required information, data, opinions of counsel, other material, or the required fee is considered an abandonment of the application.
RCW 30B.46.050 — Washington Code / Title 30B / Chapter 46 / Section 050
RCW 30B.46.050: Supervisory directive or corrective action order—Restrictions on operations—Other requirements.
Status: in_force

A supervisory directive or corrective action order may provide that the state trust company not do any of the following during the period of supervisory direction, without the prior approval of the director or the appointed representative: (1) Dispose of, convey, or encumber any of its assets; (2) Acquire new trust assets under management; (3) Dispose of existing trust assets under management; (4) Withdraw any of its own funds from bank accounts; (5) Lend any of its funds; (6) Invest any of its funds; (7) Transfer any of its property; (8) Incur any debt, obligation, or liability; (9) Change the composition of the board of directors or management; or (10) Any other written restriction or requirement as determined by the director.
RCW 30B.24.030 — Washington Code / Title 30B / Chapter 24 / Section 030
RCW 30B.24.030: Compliance with fiduciary activities standards equivalent to that of national banks—Statement of principles of trust management—Management of third-party risk.
Status: in_force

(1) Unless the director shall otherwise set forth by rule, a state trust company and, to the extent applicable, its affiliates, and their respective directors, officers, managers, employees, and agents, shall comply with such federal regulations applicable to the fiduciary activities of a federally insured state bank. (2) The requirements of subsection (1) of this section, as applicable to a state trust company, shall be at least partially contained in the state trust company's written statement of principles of trust management, the contents of which shall be subject to examination and approval by the department, and upon which the department may further examine a state trust company as to whether it is in compliance with such statement. (3) A state trust company and, to the extent applicable, its affiliate, shall comply with standards for prudent management of third-party risk under applicable law or as the director may otherwise adopt by rule or by a written interpretive statement including, without limitation, management of third-party risk pursuant to RCW 30B.24.060 .
RCW 30B.12.005 — Washington Code / Title 30B / Chapter 12 / Section 005
RCW 30B.12.005: Voting securities held by state trust company.
Status: in_force

(1) Voting securities of a state trust company held by the state trust company in a fiduciary capacity under a will or trust, whether registered in its own name or in the name of its nominee, may not be voted in the election of directors or managers or on a matter affecting the compensation of directors, managers, officers, or employees of the state trust company in that capacity, unless: (a) Under the terms of the will or trust, the manner in which the voting securities are to be voted may be determined by a donor or beneficiary of the will or trust and the donor or beneficiary actually makes the determination in the matter at issue; (b) The terms of the will or trust expressly direct the manner in which the securities must be voted to the extent that no discretion is vested in the state trust company as fiduciary; or (c) The securities are voted solely by a cofiduciary that is not an affiliate of the state trust company, as if the cofiduciary were the sole fiduciary. (2) Voting securities of a state trust company that cannot be voted under this section are considered to be authorized but unissued for purposes of determining the procedures for and results of the affected vote.
RCW 30B.10.080 — Washington Code / Title 30B / Chapter 10 / Section 080
RCW 30B.10.080: Suspension and removal of directors, officers, and employees.
Status: in_force

(1) In addition to the remedies set forth in RCW 30B.10.070 , the director may, as applicable, issue and serve a current or former director, officer, manager, or employee of a state trust company or its affiliate with written notice of intent to remove such person from office or employment, or to prohibit such person from participating in the conduct of the affairs of the state trust company, its affiliate, or any depository institution, trust company, or affiliate of such depository institution or trust company, doing business in Washington state, whenever: (a) Such person has committed 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 company has suffered or is likely to suffer substantial financial loss or other damage as a result of the person's acts or omissions as set forth in (a) of this subsection; or (ii) The interests of beneficiaries, trustors, shareholders, or the general public could be seriously prejudiced by reason of the person's acts or omissions as set forth in (a) of this subsection. (2) The director may also serve upon the same respondent a written notice and order suspending the respondent from further participation in any manner in the conduct of the affairs of the state trust company, its affiliate, or any depository institution, trust company, or affiliate of such depository institution or trust company, doing business in Washington state, pending resolution of the charges made pursuant to subsection (1) of this section, if the director determines that such an action is necessary for the protection of: The state trust company or its affiliate; the interests of beneficiaries, trustors, or shareholders of the state trust company or its affiliate; the interests of any depository institution or its depositors, trust beneficiaries, borrowers, or shareholders; or the general public. (3) A suspension order issued by the director is effective upon service and, unless the superior court issues a stay of such order, such order shall remain in effect and enforceable until: (a) The director dismisses the charges contained in the notice served on the person; or (b) The effective date of a final order for removal of such person.
RCW 30A.12.020 — Washington Code / Title 30A / Chapter 12 / Section 020
RCW 30A.12.020: Meetings, where held—Corporate records.
Status: in_force

All meetings of the stockholders of any bank, except organization meetings and meetings held with the consent of all stockholders, must be held in the county in which the head office or any branch of the corporation is located. Meetings of the directors of any bank may be held either within or without this state. Every such corporation shall keep records in which shall be recorded the names and residences of the stockholders thereof, the number of shares held by each, and also the transfers of stock, showing the time when made, the number of shares and by whom transferred. In all actions, suits and proceedings, said records shall be prima facie proof of the facts shown therein. All of the corporate books, including the certificate book, stockholders' ledger and minute book or a copy thereof shall be kept at the corporation's principal place of business. Any books, record, and minutes may be in written form or any other form capable of being converted to written form within a reasonable time.
RCW 30A.12.040 — Washington Code / Title 30A / Chapter 12 / Section 040
RCW 30A.12.040: Removal of a board director, officer, or employee—Prohibiting participation in bank or holding company affairs—Grounds—Notice.
Status: in_force

(1) The director may issue and serve a board director, officer, or employee of a bank with written notice of intent to remove the person from office or employment or to prohibit the person from participating in the conduct of the affairs of the bank or any other depository institution, bank holding company, thrift holding company, or financial holding company doing business in this state whenever, in the opinion of the director: (a) Reasonable cause exists to believe the person has committed a material violation of law, an unsafe and unsound practice, or a violation or practice involving a breach of fiduciary duty, personal dishonesty, recklessness, or incompetence; and (b) The bank or holding company has suffered or is likely to suffer substantial financial loss or other damage; or (c) The interests of depositors or trust beneficiaries could be seriously prejudiced by reason of the violation or practice. (2) The director may issue and serve a board director, officer, or employee of a holding company with written notice of intent to remove the person from office or employment or to prohibit the person from participating in the conduct of the affairs of the holding company, its subsidiary bank, or any other depository institution, bank holding company, thrift holding company, or financial holding company doing business in this state whenever, in the opinion of the director: (a) Reasonable cause exists to believe the person has committed a material violation of law, an unsafe and unsound practice, or a violation or practice involving a breach of fiduciary duty, personal dishonesty, recklessness, or incompetence; and (b) The subsidiary bank has suffered or is likely to suffer substantial financial loss or other damage; or (c) The interests of depositors of the subsidiary bank could be seriously prejudiced by reason of the violation or practice.
RCW 30A.44.210 — Washington Code / Title 30A / Chapter 44 / Section 210
RCW 30A.44.210: Final notice after two years—Sale.
Status: in_force

After the expiration of two years from the time of mailing the notice, the director shall mail in a securely closed postpaid registered letter, addressed to the person at his or her last known address, a final notice stating that two years have elapsed since the sending of the notice referred to in RCW 30A.44.200 , and that the director will sell all the property or articles of value set out in the notice, at a specified time and place, not less than thirty days after the time of mailing the final notice. Unless the person shall, on or before the day mentioned, claim the property, identify himself or herself and offer evidence of his or her right thereto, to the satisfaction of the director, the director may sell all the property or articles of value listed in the notice, at public auction, at the time and place stated in the final notice: PROVIDED, That a notice of the time and place of sale has been published once within ten days prior to the sale in a newspaper of general circulation in the county where the sale is held. Any such property held by the director, the owner of which is not known, may be sold at public auction after it has been held by the director for two years, provided, that a notice of the time and place of sale has been published once within ten days prior to the sale in a newspaper of general circulation in the county where the sale is held.
RCW 30B.46.120 — Washington Code / Title 30B / Chapter 46 / Section 120
RCW 30B.46.120: Rules.
Status: in_force

The director is empowered to adopt and promulgate such rules as may be further necessary, if at all, for the implementation of this chapter and its purposes.
RCW 30B.04.070 — Washington Code / Title 30B / Chapter 04 / Section 070
RCW 30B.04.070: Limits on loans to insiders and affiliates—Exceptions.
Status: in_force

(1) A state trust company may not make loans or extensions of credit, nor extend leases, to any person except in relation to nonfiduciary corporate funds and only as set forth in this section. (2) Unless authorized by subsection (4) of this section, a state trust company may make loans or leases to insiders only to the extent permitted for state banks under federal reserve board regulation O, 12 C.F.R. Part 215. (3) Unless authorized by subsection (4) of this section, a state trust company may make loans or leases to affiliates as may be reasonably determined by the director by rule. In the absence of rule making to the contrary, the director shall be guided by sections 23a and 23b of the federal reserve act, 12 U.S.C. Secs. 371c and 371c-1, and federal reserve board regulation W, 12 C.F.R. Part 223, governing the permissibility of loans and leases to affiliates by state banks that are members of the federal reserve. (4) Notwithstanding any other provision of this section, a state trust company may make loans or extensions of credit, or extend leases, in relation to nonfiduciary corporate funds, subject to approval of the director upon written application. (5) The director may adopt rules interpreting this section and may impose further conditions and restrictions on loans and extensions of credit by state trust companies not inconsistent with this section.
RCW 30A.38.030 — Washington Code / Title 30A / Chapter 38 / Section 030
RCW 30A.38.030: Out-of-state bank may maintain and operate branches—Powers and authorities.
Status: in_force

(1) If authorized to engage in banking in this state under RCW 30A.38.010 , an out-of-state bank may maintain and operate the branches in Washington of a Washington bank with which the out-of-state bank or its predecessors engaged in an interstate combination. (2) The out-of-state bank may establish or acquire and operate additional branches in Washington to the same extent that any Washington bank may establish or acquire and operate a branch in Washington under applicable federal and state law. (3) The out-of-state state bank may, at such branches, unless otherwise limited by the bank's home state law, exercise any powers and authorities that are authorized under the laws of this state for Washington state banks. (4) The out-of-state state bank may, at these branches, exercise additional powers and authorities that are authorized under the laws of its home state, only if the director determines in writing that the exercise of the additional powers and authorities in this state will not threaten the safety and soundness of banks in this state and serves the convenience and needs of Washington consumers. Washington state banks also may exercise the powers and authorities under RCW * 30A.08.140 (16) or ** 32.08.140 (15).
RCW 30B.98.001 — Washington Code / Title 30B / Chapter 98 / Section 001
RCW 30B.98.001: Legislative declarations.
Status: in_force

See RCW 30A.04.005 .
RCW 30B.10.200 — Washington Code / Title 30B / Chapter 10 / Section 200
RCW 30B.10.200: Notice of intention to remove or prohibit participation in conduct of affairs—Hearing—Order.
Status: in_force

(1) A notice pursuant to RCW 30B.10.080 or 30B.10.190 shall: (a) Contain a statement of the facts that constitute grounds for removal or prohibition; and (b) Set a time and place at which a hearing will be held. (2) The hearing shall be set not earlier than ten days or later than thirty days after the date of service of the notice unless an earlier or later date is set by the director at the request of the board trustee or director, officer, or employee for good cause shown or at the request of the attorney general of the state. (3) Unless the respondent appears at the hearing personally or by a representative authorized under WAC 208-08-030, the respondent shall be deemed to have consented to the issuance of an order of removal or prohibition or both. In the event of such consent or if upon the record made at the hearing the director finds that any of the grounds specified in the notice have been established, the director may issue such order of removal or prohibition from participation in the conduct of the affairs of the state trust company, out-of-state trust company doing business in Washington state, or affiliate, as the director may consider appropriate. (4) Any order under this section shall become effective at the expiration of ten days after service upon the respondent, except that an order issued upon consent shall become effective at the time specified in the order. (5) An order shall remain effective except to the extent it is stayed, modified, terminated, or set aside by the director or a reviewing court.
RCW 30A.38.020 — Washington Code / Title 30A / Chapter 38 / Section 020
RCW 30A.38.020: Out-of-state bank with host branches—Relocation of head office—Reincorporation—Application—Director's approval required.
Status: in_force

An out-of-state bank with host branches in this state may relocate its head office in Washington and reincorporate as a Washington state bank if the director finds that the bank meets the standards as to capital structures, operations, business experience, and character of officers and directors, and the bank follows the procedures specified in this section. The bank shall file with the director on a form prescribed by the director, an application to relocate its head office to Washington. Within six months upon acceptance of a complete application, the director shall notify the bank to file, in triplicate, an executed and acknowledged certificate of reincorporation signed by a majority of the entire board of directors that at least two-thirds of each class of voting stock of the bank entitled to vote thereon has approved the: (1) Head office relocation; (2) change to a Washington state bank; and (3) new articles of incorporation. Within thirty days after receipt of the certificate and articles, the director shall endorse upon each of the triplicate copies, over the director's official signature, the word "approved" or the word "refused," with the date of the endorsement. In case of refusal the director shall immediately return one of the triplicates, so endorsed, together with a statement explaining the reason for refusal to the bank from whom the certificate and articles were received. The refusal shall be conclusive, unless the bank, within ten days of the issuance of the notice of refusal, requests a hearing under chapter 34.05 RCW.