reglab/housing_qa huggingface dataset:
WA Rev Code § 30B.53.020 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.53 - State Trust Companies—Merger, Consolidation, and Conversion.|30B.53.020 - Contents of merger agreement—Approval by each board of directors—Requirements for director's approval.

RCW 30B.53.020 Contents of merger agreement—Approval by each board of directors—Requirements for director's approval.(1) The board of directors of each merging trust company shall, by a majority of the entire board, approve a merger agreement that must contain:(a) The name of each merging trust company and location of each office;(b) With respect to the resulting trust company, (i) the name and location of the principal and other offices; (ii) the name and mailing address of each director to serve until the next annual meeting of the shareholders; (iii) the name and mailing address of each officer; (iv) the amount of capital, the number of shares, and the par value, if any, of each share; and (v) the amendments to its charters and bylaws;(c) Provisions governing the exchange of shares of the merging trust companies for such consideration as has been agreed to in the merger agreement;(d) A statement that the agreement is subject to approval by the director and the shareholders of each merging trust company;(e) Provisions governing the manner of disposing of the shares of the resulting trust company if the shares are to be issued in the transaction and are not taken by dissenting shareholders of merging trust companies; and(f) Any other provisions the director requires to discharge his or her duties with respect to the merger.(2) After approval by the board of directors of each merging trust company, the merger agreement shall be submitted to the director for approval, together with certified copies of the authorizing resolutions of each board of directors showing approval by a majority of the entire board. Within sixty days after receipt by the director of the merger agreement and resolutions, the director shall approve or disapprove of the merger agreement, and if no action is taken, the agreement is deemed approved. The director shall approve the agreement if it appears that the:(a) Resulting trust company meets the requirements of state law as to the formation of a new trust company;(b) Agreement provides an adequate capital in relation to the deposit liabilities, if any, of the resulting trust company and its other activities which are to continue or are to be undertaken;(c) Agreement is fair; and(d) Merger is not contrary to the public interest.If the director disapproves an agreement, he or she shall state his or her objections and give an opportunity to the merging trust company to amend the merger agreement to obviate such objections.[ 2019 c 389 § 97; 2014 c 37 § 390.]
WA Rev Code § 30B.53.030 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.53 - State Trust Companies—Merger, Consolidation, and Conversion.|30B.53.030 - Approval by shareholders—Voting—Notice.

RCW 30B.53.030 Approval by shareholders—Voting—Notice.(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.[ 2019 c 389 § 98; 2014 c 37 § 391.]
WA Rev Code § 30B.53.040 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.53 - State Trust Companies—Merger, Consolidation, and Conversion.|30B.53.040 - Effective date of merger—Certificate of merger.

RCW 30B.53.040 Effective date of merger—Certificate of merger.(1) A merger that is to result in a trust company shall, unless a later date is specified in the agreement, become effective after the filing with and upon the approval of the director of the executed agreement together with copies of the resolutions of the shareholders of each merging trust company approving it, certified by the trust company's president or manager and the secretary. The charters of the merging trust companies, other than the resulting trust company, shall immediately after that automatically terminate.(2) The director shall immediately after that issue to the resulting trust company a certificate of merger specifying the name of each merging trust company and the name of the resulting trust company. The certificate shall be conclusive evidence of the merger and of the correctness of all proceedings regarding the merger in all courts and places, and may be recorded in any office for the recording of deeds to evidence the new name in which the property of the merging trust companies is held.[ 2019 c 389 § 99; 2014 c 37 § 392.]
WA Rev Code § 30B.53.050 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.53 - State Trust Companies—Merger, Consolidation, and Conversion.|30B.53.050 - Resulting trust company—Property, rights, powers, and duties.

RCW 30B.53.050 Resulting trust company—Property, rights, powers, and duties.(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.[ 2014 c 37 § 393.]
WA Rev Code § 30B.53.060 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.53 - State Trust Companies—Merger, Consolidation, and Conversion.|30B.53.060 - Dissenting shareholders—May receive value in cash—Appraisal.

RCW 30B.53.060 Dissenting shareholders—May receive value in cash—Appraisal.(1) The owner of shares of a trust company that were voted against a merger to result in a trust company shall be entitled to receive their value in cash, if and when the merger becomes effective, upon written demand made to the resulting trust company at any time within thirty days after the effective date of the merger, accompanied by the surrender of the share certificates. The value of the shares shall be determined, as of the date of the shareholders' meeting approving the merger, by three appraisers, one to be selected by the owners of two-thirds of the dissenting shares, one by the board of directors of the resulting trust company, and the third by the two so chosen. The valuation agreed upon by any two appraisers shall govern. If the appraisal is not completed within ninety days after the merger becomes effective, the director shall cause an appraisal to be made.(2) The dissenting shareholders shall bear, on a pro rata basis based on number of dissenting shares owned, the cost of their appraisal and one-half of the cost of a third appraisal, and the resulting trust company shall bear the cost of its appraisal and one-half of the cost of the third appraisal. If the director causes an appraisal to be made, the cost of that appraisal shall be borne equally by the dissenting shareholders and the resulting trust company, with the dissenting shareholders sharing their half of the cost on a pro rata basis based on number of dissenting shares owned.(3) The resulting trust company may fix an amount which it considers to be not more than the fair market value of the shares of a merging trust company at the time of the shareholders' meeting approving the merger, that it will pay dissenting shareholders of the trust company entitled to payment in cash. The amount due under an accepted offer or under the appraisal shall constitute a debt of the resulting trust company.[ 2019 c 389 § 100; 2014 c 37 § 394.]
WA Rev Code § 30B.53.070 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.53 - State Trust Companies—Merger, Consolidation, and Conversion.|30B.53.070 - Valuation of assets—Books of merging trust company.

RCW 30B.53.070 Valuation of assets—Books of merging trust company.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.[ 2014 c 37 § 395.]
WA Rev Code § 30B.53.080 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.53 - State Trust Companies—Merger, Consolidation, and Conversion.|30B.53.080 - Sale of assets.

RCW 30B.53.080 Sale of assets.(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.[ 2014 c 37 § 396.]
WA Rev Code § 30B.53.100 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.53 - State Trust Companies—Merger, Consolidation, and Conversion.|30B.53.100 - Acquisition of control of state trust company—Disapproval by director—Change of officers.

RCW 30B.53.100 Acquisition of control of state trust company—Disapproval by director—Change of officers.(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.[ 2019 c 389 § 95.]
WA Rev Code § 30B.64.005 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.64 - Private Trusts and Private Trust Companies.|30B.64.005 - Definitions.

RCW 30B.64.005 Definitions.Unless the context clearly requires otherwise, the definitions in this section apply to the provisions of this chapter.(1) "Change of control" means to transfer or sell control of a private trust or private trust company to a person or persons other than family members.(2) "Common ancestor" has the same meaning as an individual referred to as a common ancestor in the internal revenue code, 26 U.S.C. Sec. 1361(c)(1)(B)(ii), and excludes an individual who, on an applicable date, is more than six generations removed from the youngest generation of shareholders or holders of beneficial interests in a private trust company.(3) "Family member" means an individual who is a common ancestor, a lineal descendant of such common ancestor, or a spouse or former spouse of such common ancestor or such lineal descendant.(4) "Private trust" means a trust created and maintained pursuant to the Washington trust act, chapter 11.98 RCW, or the laws of another state or foreign jurisdiction, in which:(a) The trustee is a person who does not hold itself out to the general public as being engaged in trust business; and(b) Neither the trust nor the trustee, in the capacity of trustee for the private trust, transacts business with the general public.(5) "Private trust company" means a company acting as a private trust.(6) "Transact business with the general public" means any sales, solicitations, arrangements, agreements, or transactions to provide trust or other business services, whether or not for a fee, commission, or any other type of remuneration, with any client that is not a family member or a sole proprietorship, partnership, joint venture, association, trust, estate, business trust, or other company that is not one hundred percent owned or controlled by one or more family members.[ 2014 c 37 § 397.]
WA Rev Code § 30B.64.010 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.64 - Private Trusts and Private Trust Companies.|30B.64.010 - Private trusts and private trust companies exempt—Exception for change of control.

RCW 30B.64.010 Private trusts and private trust companies exempt—Exception for change of control.(1) A private trust or private trust company is exempt from the requirement of a certificate of authority or regulation under this title.(2) Notwithstanding subsection (1) of this section, a transfer or change of control of a private trust or private trust company to a person or persons other than family members constitutes unauthorized trust activity unless the resulting private trust company is a trust institution authorized to do business in this state.[ 2014 c 37 § 398.]
WA Rev Code § 30B.64.020 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.64 - Private Trusts and Private Trust Companies.|30B.64.020 - Conversion to public trust company.

RCW 30B.64.020 Conversion to public trust company.A private trust or private trust company which seeks to convert to one transacting business with the general public in this state must apply for and obtain a certificate of authority as a state trust company under chapter 30B.08 RCW or a federal charter or charter from another state which would permit it to conduct trust business and fiduciary activities in this state without engaging in unauthorized trust activity.[ 2014 c 37 § 399.]
WA Rev Code § 30B.64.030 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.64 - Private Trusts and Private Trust Companies.|30B.64.030 - Other exemptions not affected by chapter.

RCW 30B.64.030 Other exemptions not affected by chapter.The provisions of this chapter do not affect the exemptions for persons acting pursuant to RCW 30B.04.040.[ 2014 c 37 § 400.]
WA Rev Code § 30B.72.005 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.72 - Effect on Preexisting Trust Companies and Trust Businesses.|30B.72.005 - Trust companies under former Title 30 RCW.

RCW 30B.72.005 Trust companies under former Title 30 RCW.Trust companies under Title 30 RCW, as it existed on January 5, 2015, shall automatically succeed to and be subject to all powers and authorities, rights and obligations, privileges and immunities, and discretions of a state trust company under this title.[ 2014 c 37 § 401.]
WA Rev Code § 30B.72.010 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.72 - Effect on Preexisting Trust Companies and Trust Businesses.|30B.72.010 - Preexisting approved out-of-state trust institutions.

RCW 30B.72.010 Preexisting approved out-of-state trust institutions.(1) An out-of-state trust institution that has, prior to July 28, 2019, obtained approval from the director under authority of Title 30 RCW, as it existed before January 5, 2015, or under authority of this title, as it existed prior to July 28, 2019, to engage in trust business in Washington state and has continuously since the date of such approval held itself out to the public as engaging in trust business in Washington state, shall be exempt from the requirement of notice to or obtaining approval from the director pursuant to chapter 30B.38 RCW.(2) For purposes of this section, the term "director" includes the former office of the supervisor of banks that merged into the department under authority of chapter 43.320 RCW.(3) For purposes of this section, satisfactory evidence of approval from the director may be established only by written evidence that the director gave his or her approval prior to July 28, 2019, in the form of a certificate of authority, declaration of reciprocity between Washington state and the home state of the out-of-state trust institution, or the equivalent. Authorization from the secretary of state to transact business in Washington state as a foreign corporation or foreign limited liability company is not by itself satisfactory evidence of such approval from the director.(4) For purposes of this section, an out-of-state trust institution with satisfactory evidence of the director's approval to engage in trust business prior to July 28, 2019, is presumed to have:(a) Complied with chapter 30B.38 RCW; and(b) Continuously held itself out to the public as engaging in trust business in Washington state since the date of the director's approval.[ 2019 c 389 § 101; 2014 c 37 § 402.]
WA Rev Code § 30B.98.001 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.98 - Construction.|30B.98.001 - Legislative declarations.

RCW 30B.98.001 Legislative declarations.See RCW 30A.04.005.
WA Rev Code § 30B.98.003 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.98 - Construction.|30B.98.003 - Effective date—2014 c 37.

RCW 30B.98.003 Effective date—2014 c 37.See RCW 30A.04.902.
WA Rev Code § 30B.98.005 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.98 - Construction.|30B.98.005 - Continuation of existing law.

RCW 30B.98.005 Continuation of existing law.The provisions of this title, insofar as they are substantially the same as statutory provisions repealed by chapter 37, Laws of 2014 and relating to the same subject matter, shall be construed as restatements and continuations, and not as new enactments.[ 2014 c 37 § 403.]
WA Rev Code § 30B.98.010 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.98 - Construction.|30B.98.010 - Title, chapter, section headings not part of law.

RCW 30B.98.010 Title, chapter, section headings not part of law.Title headings, chapter or subchapter headings, and section or subsection headings as used in this title do not constitute any part of the law.[ 2014 c 37 § 404.]
WA Rev Code § 30B.98.020 (2021)
2021 Revised Code of Washington|Title 30B - Washington Trust Institutions Act|Chapter 30B.98 - Construction.|30B.98.020 - Prior investments or transactions not affected.

RCW 30B.98.020 Prior investments or transactions not affected.This title does not affect the legality of investments, made prior to January 5, 2015, or of transactions had before January 5, 2015, pursuant to any provisions of law in force when such investments were made or transactions had.[ 2014 c 37 § 406.]
WA Rev Code § 31.04.035 (2021)
2021 Revised Code of Washington|Title 31 - Miscellaneous Loan Agencies|Chapter 31.04 - Consumer Loan Act.|31.04.035 - License required—When violation occurs.

RCW 31.04.035 License required—When violation occurs.(1) No person may make secured or unsecured loans of money or things in action, or extend credit, or service or modify the terms or conditions of residential mortgage loans, or service or modify student education loans, without first obtaining and maintaining a license in accordance with this chapter, except those exempt under RCW 31.04.025 or not subject to licensure under RCW 31.04.420.(2) If a transaction violates subsection (1) of this section, any:(a) Nonthird-party fees charged in connection with the origination of the residential mortgage loan must be refunded to the borrower, excluding interest charges; and(b) Fees or interest charged in the making of a nonresidential loan must be refunded to the borrower.(3) The director's obligations or duties under chapter 62, Laws of 2018 are subject to section 21, chapter 62, Laws of 2018.[ 2018 c 62 § 12; 2013 c 29 § 4; 2010 c 35 § 2; 2009 c 120 § 4; 2008 c 78 § 2; 1991 c 208 § 3.]NOTES:Findings—Declaration—2009 c 120: See note following RCW 31.04.015.Severability—2008 c 78: See note following RCW 31.04.025.