reglab/housing_qa huggingface dataset:
WA Rev Code § 11.99.010 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.99 - Construction.|11.99.010 - Effective date of title.

RCW 11.99.010 Effective date of title.This title shall take effect and be in force on and after the first day of July, 1967; except that sections 11.44.055, 11.44.065, 11.44.070 and 11.44.080 shall take effect on July 1, 1965, and the repeal of the following acts or parts of acts as listed in section 11.99.015 shall also take effect on July 1, 1965, to wit: In subsection (10), section 1444, Code of 1881; in subsection (47), section 95, chapter 156, Laws of 1917; in subsection (48), section 1, chapter 23, Laws of 1919; in subsection (64), section 1, chapter 112, Laws of 1929; in subsection (66), section 123, chapter 180, Laws of 1935; in subsection (71), section 8, chapter 202, Laws of 1939; and in subsection (111), section 83.16.040, chapter 15, Laws of 1961. Except as above provided the procedures herein prescribed shall govern all proceedings in probate brought after the effective date of the title and, also, all further procedure and proceedings in probate then pending, except to the extent that in the opinion of the court their application in particular proceedings or part thereof would not be feasible or would work injustice, in which event the former procedure shall apply.[ 1965 c 145 § 11.99.010.]
WA Rev Code § 11.99.013 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.99 - Construction.|11.99.013 - Headings not part of law.

RCW 11.99.013 Headings not part of law.Title headings, chapter headings, and section or subsection headings, as used in this title do not constitute any part of the law.[ 1965 c 145 § 11.99.013.]
WA Rev Code § 11.99.015 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.99 - Construction.|11.99.015 - Repeal.

RCW 11.99.015 Repeal.See 1965 c 145 s 11.99.015.
WA Rev Code § 11.99.020 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.99 - Construction.|11.99.020 - Savings clause—Rights not affected.

RCW 11.99.020 Savings clause—Rights not affected.No act done in any proceeding commenced before this title takes effect and no accrued right shall be impaired by its provisions. When a right is acquired, extinguished or barred upon the expiration of a prescribed period of time which has commenced to run by the provisions of any statute in force before this title takes effect, such provisions shall remain in force and be deemed a part of this code with respect to such right.[ 1965 c 145 § 11.99.020.]
WA Rev Code § 11.100.010 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.010 - Provisions of chapter to control—Alteration by controlling instrument.

RCW 11.100.010 Provisions of chapter to control—Alteration by controlling instrument.Any corporation, association, or person handling or investing trust funds as a fiduciary shall be governed in the handling and investment of such funds as in this chapter specified. A fiduciary who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with requirements of this chapter. The specific requirements of this chapter may be expanded, restricted, eliminated, or otherwise altered by provisions of the controlling instrument.[ 1995 c 307 § 1; 1985 c 30 § 63. Prior: 1955 c 33 § 30.24.010; prior: 1947 c 100 § 1; Rem. Supp. 1947 § 3255-10a. Formerly RCW 30.24.010.]NOTES:Application—1995 c 307: "This act applies prospectively only and not retroactively." [ 1995 c 307 § 7.]Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
WA Rev Code § 11.100.015 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.015 - Guardians, guardianships and funds are subject to chapter.

RCW 11.100.015 Guardians, guardianships and funds are subject to chapter.In addition to other fiduciaries, a guardian of any estate is a fiduciary within the meaning of this chapter; and in addition to other trusts, a guardianship of any estate is a trust within the meaning of this chapter; and in addition to other trust funds, guardianship funds are trust funds within the meaning of this chapter.[ 1985 c 30 § 64. Prior: 1955 c 33 § 30.24.015; prior: 1951 c 218 § 1. Formerly RCW 30.24.015.]NOTES:Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
WA Rev Code § 11.100.020 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.020 - Management of trust assets by fiduciary.

RCW 11.100.020 Management of trust assets by fiduciary.(1) A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution.(2) A trustee's investment and management decisions respecting individual assets must be evaluated not in isolation but in the context of the trust portfolio as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the trust.(3) Among the circumstances that a trustee shall consider in investing and managing trust assets are such of the following as are relevant to the trust or its beneficiaries:(a) General economic conditions;(b) The possible effect of inflation or deflation;(c) The expected tax consequences of investment decisions or strategies;(d) The role that each investment or course of action plays within the overall portfolio, which may include financial assets, interests in closely held enterprises, tangible and intangible personal property, and real property;(e) The expected total return from income and the appreciation of capital;(f) Other resources of the beneficiaries;(g) Needs for liquidity, regularity of income, and preservation or appreciation of capital; and(h) An asset's special relationship or special value, if any, to the purposes of the trust or to one or more of the beneficiaries.(4) A trustee shall make a reasonable effort to verify facts relevant to the investment and management of trust assets.(5) A trustee may invest in any kind of property or type of investment consistent with the standards of this section.(6) A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, has a duty to use those special skills or expertise.[ 2015 c 115 § 18; 1995 c 307 § 2; 1985 c 30 § 65. Prior: 1984 c 149 § 97; 1955 c 33 § 30.24.020; prior: 1947 c 100 § 2; Rem. Supp. 1947 § 3255-10b. Formerly RCW 30.24.020.]NOTES:Application—1995 c 307: See note following RCW 11.100.010.Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.Endowment care funds to be invested in accordance with RCW 11.100.020: RCW 68.44.030.
WA Rev Code § 11.100.023 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.023 - Authority of fiduciary to invest in certain enterprises.

RCW 11.100.023 Authority of fiduciary to invest in certain enterprises.Subject to the standards of RCW 11.100.020, a fiduciary is authorized to invest in new, unproven, untried, or other enterprises with a potential for significant growth whether producing a current return, either by investing directly therein or by investing as a limited partner or otherwise in one or more commingled funds which in turn invest primarily in such enterprises. The aggregate amount of investments held by a fiduciary under the authority of this section valued at cost shall not exceed ten percent of the net fair market value of the trust corpus, including investments made under the authority of this section valued at fair market value, immediately after any such investment is made. Any investment which would have been authorized by this section if in force at the time the investment was made is hereby authorized.[ 1985 c 30 § 66. Prior: 1984 c 149 § 98.]NOTES:Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
WA Rev Code § 11.100.025 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.025 - Spousal or domestic partnership deduction interests.

RCW 11.100.025 Spousal or domestic partnership deduction interests.Notwithstanding RCW 11.98.070(21)(a), 11.100.060, or any other statutory provisions to the contrary, with respect to trusts which require by their own terms or by operation of law that all income be paid at least annually to the spouse or domestic partner of the trust's creator, which do not provide that on the termination of the income interest that the entire then remaining trust estate be paid to the estate of the spouse or domestic partner of the trust's creator, and for which a federal estate or gift tax marital deduction is claimed, any investment in or retention of unproductive property is subject to a power in the spouse or domestic partner of the trust's creator to require either that any such asset be made productive, or that it be converted to productive assets within a reasonable period of time unless the instrument creating the interest provides otherwise.[ 2008 c 6 § 929; 1985 c 30 § 67. Prior: 1984 c 149 § 99.]NOTES:Part headings not law—Severability—2008 c 6: See RCW 26.60.900 and 26.60.901.Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
WA Rev Code § 11.100.030 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.030 - Investment in savings accounts—Requirements.

RCW 11.100.030 Investment in savings accounts—Requirements.A corporation doing a trust business may invest trust funds in savings accounts with itself to the extent that deposits are insured by an agency of the federal government. Additional trust funds may be so invested by the corporation only if it first sets aside under the control of its trust department as collateral security:(1) Direct obligations of the United States or other obligations fully guaranteed by the United States as to principal and interest; or(2) Bonds or other obligations which constitute general obligations of any state of the United States or municipal subdivision thereof.The securities so deposited or securities substituted therefor as collateral shall at all times be at least equal in market value to the amount of the funds so deposited.[ 1985 c 30 § 68. Prior: 1984 c 149 § 101; 1967 c 133 § 3; 1955 c 33 § 30.24.030; prior: 1947 c 100 § 3; Rem. Supp. 1947 § 3255-10c. Formerly RCW 30.24.030.]NOTES:Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
WA Rev Code § 11.100.037 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.037 - Investment or distribution of funds held in fiduciary capacity—Deposit in other departments authorized—Collateral security required, exception.

RCW 11.100.037 Investment or distribution of funds held in fiduciary capacity—Deposit in other departments authorized—Collateral security required, exception.Funds held by a bank or trust company in a fiduciary capacity awaiting investment or distribution shall not be held uninvested or undistributed any longer than is reasonable for the proper management of the account. These funds, including managing agency accounts, may, unless prohibited by the instrument creating the trust or by other statutes of this state, be deposited in the commercial or savings or other department of the bank or trust company, only if the bank or trust company first sets aside under control of the trust department as collateral security:(1) Direct obligations of the United States or other obligations fully guaranteed by the United States as to principal and interest; or(2) Bonds or other obligations which constitute general obligations of any state of the United States or municipal subdivision thereof.The securities so deposited or securities substituted therefor as collateral shall at all times be at least equal in market value to the amount of the funds so deposited, but such security shall not be required to the extent that the funds so deposited are insured by an agency of the federal government.[ 1985 c 30 § 70. Prior: 1984 c 149 § 104; 1967 c 133 § 4. Formerly RCW 30.24.037.]NOTES:Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
WA Rev Code § 11.100.040 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.040 - Court may permit deviation from terms of trust instrument.

RCW 11.100.040 Court may permit deviation from terms of trust instrument.Nothing contained in this chapter shall be construed as restricting the power of a court of proper jurisdiction to permit a fiduciary to deviate from the terms of any will, agreement, or other instrument relating to the acquisition, investment, reinvestment, exchange, retention, sale, or management of fiduciary property.[ 1985 c 30 § 71. Prior: 1955 c 33 § 30.24.040; prior: 1947 c 100 § 4; Rem. Supp. 1947 § 3255-10d. Formerly RCW 30.24.040.]NOTES:Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
WA Rev Code § 11.100.045 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.045 - Fiduciary—Duty to beneficiaries.

RCW 11.100.045 Fiduciary—Duty to beneficiaries.A fiduciary shall invest and manage the trust assets solely in the interests of the trust beneficiaries. If a trust has two or more beneficiaries, the fiduciary shall act impartially in investing and managing the trust assets, taking into account any differing interests of the beneficiaries.[ 1995 c 307 § 4.]NOTES:Application—1995 c 307: See note following RCW 11.100.010.
WA Rev Code § 11.100.047 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.047 - Fiduciary—Duty to diversify.

RCW 11.100.047 Fiduciary—Duty to diversify.Subject to the provisions of RCW 11.100.060 and any express provisions in the trust instrument to the contrary, a fiduciary shall diversify the investments of the trust unless the fiduciary reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying.[ 1995 c 307 § 5.]NOTES:Application—1995 c 307: See note following RCW 11.100.010.
WA Rev Code § 11.100.050 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.050 - Scope of chapter—RCW 11.68.090 prevails.

RCW 11.100.050 Scope of chapter—RCW 11.68.090 prevails.(1) The provisions of this chapter govern fiduciaries acting under wills, agreements, court orders, and other instruments effective before or after January 1, 1985.(2) To the extent that this chapter is in conflict with RCW 11.68.090, RCW 11.68.090 prevails.[ 2021 c 140 § 4024; 1985 c 30 § 72. Prior: 1984 c 149 § 107; 1955 c 33 § 30.24.050; prior: 1947 c 100 § 5; Rem. Supp. 1947 § 3255-10e. Formerly RCW 30.24.050.]NOTES:Application—2021 c 140 §§ 4003-4017, 4023, 4024, and 4026: See note following RCW 11.48.130.Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
WA Rev Code § 11.100.060 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.060 - Fiduciary may hold and retain trust property—Investments—Liability.

RCW 11.100.060 Fiduciary may hold and retain trust property—Investments—Liability.Subject to express provisions to the contrary in the trust instrument, any fiduciary may hold and retain any real or personal property received into or acquired by the trust from any source. Except as to trust property acquired for consideration, a fiduciary may hold and retain any such property without need for diversification as to kinds or amount and whether or not the property is income producing.Any fiduciary may invest funds held in trust under an instrument creating the trust in any manner and in any investment or in any class of investments authorized by the instrument.The investments described in this section are permissible even though the securities or other property are not permitted under other provisions of this chapter, and even though the securities may be securities issued by the corporation that is the fiduciary.A fiduciary is not liable for any loss incurred with respect to any investment held under the authority of or pursuant to this section if that investment was permitted when received or when the investment was made by the fiduciary, and if the fiduciary exercises due care and prudence in the disposition or retention of any such investment.[ 1985 c 30 § 73. Prior: 1984 c 149 § 108.]NOTES:Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
WA Rev Code § 11.100.070 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.070 - Meaning of terms in trust instrument.

RCW 11.100.070 Meaning of terms in trust instrument.The terms "legal investment" or "authorized investment" or words of similar import, as used in any such instrument, shall be taken to mean any investment which is permitted by the terms of RCW 11.100.020.[ 1985 c 30 § 74. Prior: 1984 c 149 § 110; 1955 c 33 § 30.24.070; prior: 1947 c 100 § 7; 1941 c 41 § 13; Rem. Supp. 1947 § 3255-13. Formerly RCW 30.24.070.]NOTES:Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
WA Rev Code § 11.100.090 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.090 - Dealings with self or affiliate.

RCW 11.100.090 Dealings with self or affiliate.Unless the instrument creating the trust expressly provides to the contrary and except as authorized in RCW 11.98.078, any fiduciary in carrying out the obligations of the trust, may not buy or sell investments from or to himself, herself, or itself or any affiliated or subsidiary company or association. This section shall not be construed as prohibiting the trustee's powers under RCW 11.98.070(12).[ 2011 c 327 § 34; 1985 c 30 § 75. Prior: 1984 c 149 § 111; 1955 c 33 § 30.24.090; prior: 1947 c 100 § 9; 1941 c 41 § 17; Rem. Supp. 1947 § 3255-17. Formerly RCW 30.24.090.]NOTES:Application—Effective date—2011 c 327: See notes following RCW 11.103.020.Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
WA Rev Code § 11.100.120 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.120 - Use of trust funds for life insurance.

RCW 11.100.120 Use of trust funds for life insurance.Subject to the standards of RCW 11.100.020, a fiduciary is authorized to use trust funds to acquire life insurance upon the life of any beneficiary or upon the life of another in whose life such beneficiary has an insurable interest.[ 1985 c 30 § 76. Prior: 1984 c 149 § 112; 1973 1st ex.s. c 89 § 1. Formerly RCW 30.24.120.]NOTES:Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.Insurable interest, guardian, trustee or other fiduciary: RCW 48.18.030(3)(c).
WA Rev Code § 11.100.130 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.100 - Investment of Trust Funds.|11.100.130 - Person to whom power or authority to direct or control acts of fiduciary or investments of a trust is conferred deemed a fiduciary—Liability.

RCW 11.100.130 Person to whom power or authority to direct or control acts of fiduciary or investments of a trust is conferred deemed a fiduciary—Liability.Whenever power or authority to direct or control the acts of a fiduciary or the investments of a trust is conferred directly or indirectly upon any person other than the designated trustee of the trust, such person shall be deemed to be a fiduciary and shall be liable to the beneficiaries of the trust and to the designated trustee to the same extent as if he or she were a designated trustee in relation to the exercise or nonexercise of such power or authority.[ 1995 c 307 § 6; 1985 c 30 § 77. Prior: 1973 1st ex.s. c 89 § 2. Formerly RCW 30.24.130.]NOTES:Application—1995 c 307: See note following RCW 11.100.010.Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
WA Rev Code § 11.102.010 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.102 - Common Trust Funds.|11.102.010 - Funds authorized—Investment—Rules and regulations—"Affiliated" defined.

RCW 11.102.010 Funds authorized—Investment—Rules and regulations—"Affiliated" defined.Any bank or trust company qualified to act as fiduciary in this state, or in any other state if affiliated with a bank or trust company qualified to act as fiduciary in this state, may establish common trust funds for the purpose of furnishing investments to itself and its affiliated or related bank or trust company as fiduciary, or to itself and its affiliated or related bank or trust company, and others, as cofiduciaries; and may, as such fiduciary or cofiduciary, invest funds which it lawfully holds for investment in interests in such common trust funds, if such investment is not prohibited by the instrument, judgment, decree, or order creating such fiduciary relationship, and if, in the case of cofiduciaries, the bank or trust company procures the consent of its cofiduciary or cofiduciaries to such investment: PROVIDED, That any bank or trust company qualified to act as fiduciary in the state of its charter, which is not a member of the federal reserve system, shall, in the operation of such common trust fund, comply with the rules and regulations as made from time to time by the director of financial institutions in the state where chartered and in Washington the director is hereby authorized and empowered to make such rules and regulations as he or she may deem necessary and proper in the premises."Affiliated" as used in this section means two or more banks or trust companies:(1) In which twenty-five percent or more of their voting shares, excluding shares owned by the United States or by any company wholly owned by the United States, are directly or indirectly owned or controlled by a holding company; or(2) In which the election of a majority of the directors is controlled in any manner by a holding company.[ 1994 c 92 § 1; 1985 c 30 § 79. Prior: 1979 c 105 § 1; 1955 c 33 § 30.28.010; prior: 1943 c 55 § 1; Rem. Supp. 1943 § 3388. Formerly RCW 30.28.010.]NOTES:Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.