reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.98 - Construction. › 30A.98.015 - Continuation of existing law.

RCW 30A.98.015
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The provisions of this title, insofar as they are substantially the same as statutory provisions repealed by chapter 37, Laws of 2014 and relating to the same subject matter, shall be construed as restatements and continuations, and not as new enactments.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 § 258.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.98 - Construction. › 30A.98.020 - Title, chapter, section headings not part of law.

RCW 30A.98.020
Title, chapter, section 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.
[ 1955 c 33 § 30.98.020. Formerly RCW 30.98.020.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.98 - Construction. › 30A.98.030 - Invalidity of part of title not to affect remainder.

RCW 30A.98.030
Invalidity of part of title not to affect remainder.
If any provision of this title, or its application to any person or circumstance is held invalid, the remainder of the title, or the application of the provision to other persons or circumstances is not affected.
[ 1955 c 33 § 30.98.030. Formerly RCW 30.98.030.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.98 - Construction. › 30A.98.040 - Prior investments or transactions not affected.

RCW 30A.98.040
Prior investments or transactions not affected.
Nothing in this title shall be construed to affect the legality of investments, made prior to March 10, 1917, or of transactions had before March 10, 1917, pursuant to any provisions of law in force when such investment were made or transactions had. (Adopted from 1917 c 80 § 77.)
[ 1955 c 33 § 30.98.040. Formerly RCW 30.98.040.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.98 - Construction. › 30A.98.045 - Prior investments or transactions not affected.

RCW 30A.98.045
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 § 260.]
2023 Revised Code of Washington › Title 30A - Washington Commercial Bank Act › Chapter 30A.98 - Construction. › 30A.98.060 - Emergency—1955 c 33.

RCW 30A.98.060
Emergency—1955 c 33.
This act is necessary for the immediate preservation of the public peace, health and safety, the support of the state government and its existing public institutions, and shall take effect immediately.
[ 1955 c 33 § 30.98.060. Formerly RCW 30.98.060.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › RCW Dispositions › 30B.44B STATE TRUST COMPANIES—INVOLUNTARY DISSOLUTION AND LIQUIDATION

Sections
30B.44B.020 Other requirements for involuntary dissolution and liquidation.
[2014 c 37 § 384.]
Repealed by 2019 c 389 § 103.
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › RCW Dispositions › 30B.46 STATE TRUST COMPANIES—SUPERVISORY DIRECTION AND CONSERVATORSHIP

Sections
30B.46.005 Supervisory direction.
[2014 c 37 § 385.]
Repealed by 2019 c 389 § 103.
30B.46.010 Conservatorship.
[2014 c 37 § 386.]
Repealed by 2019 c 389 § 103.
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.010 - Name of trust institution—Use of trust in name.

RCW 30B.04.010
Name of trust institution—Use of trust in name.
(1) A state trust company or out-of-state trust institution may register any name with the department in connection with establishing an office or otherwise engaged in trust business in Washington state pursuant to this title, except that the director may determine that a name proposed to be registered is potentially misleading to the public and require the registrant to select a name which is not potentially misleading.
(2) Use of "trust" as part of a person's name or fictitious trade name, or as part of a trademark or service mark in connection with transacting business with the public, or as part of advertising by any person to the public, is subject to the prohibitions and restrictions under RCW 30A.04.020.
[ 2019 c 389 § 3; 2014 c 37 § 303.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.020 - Rules—Administration and interpretation of title.

RCW 30B.04.020
Rules—Administration and interpretation of title.
(1) The director has the power to adopt rules, as he or she determines necessary and appropriate, to implement the purposes and provisions of this title in accordance with the administrative procedure act, chapter 34.05 RCW.
(2) The director has the power, and broad administrative discretion, to administer and interpret the provisions of this title to facilitate the delivery of trust business and fiduciary services to the citizens of the state of Washington by trust businesses and other persons.
[ 2014 c 37 § 304.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.030 - Persons authorized to act as a fiduciary.

RCW 30B.04.030
Persons authorized to act as a fiduciary.
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.
[ 2014 c 37 § 305.]
NOTES:
*Reviser's note: RCW 30B.04.005 was amended by 2019 c 389 § 2, deleting the definitions of "savings association" and "state savings association."
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.050 - Persons subject to the requirement of a certificate of authority or approval under this title.

RCW 30B.04.050
Persons subject to the requirement of a certificate of authority or approval under this title.
(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.
[ 2014 c 37 § 307.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.060 - Confidentiality of examination information.

RCW 30B.04.060
Confidentiality of examination information.
This title does not limit the privileges, immunities, and requirements of RCW 42.56.400(6), 30A.04.075, 32.04.220, and 33.04.110 in relation to trust companies, state banks, and state savings associations.
[ 2014 c 37 § 308.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.070 - Limits on loans to insiders and affiliates—Exceptions.

RCW 30B.04.070
Limits on loans to insiders and affiliates—Exceptions.
(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.
[ 2014 c 37 § 309.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.080 - Transactions in state trust company shares.

RCW 30B.04.080
Transactions in state trust company shares.
(1) A state trust company may acquire its own shares if:
(a) The amount of its capital is sufficient to fully absorb the acquisition of the shares under regulatory accounting principles; or
(b) The state trust company obtains the prior written approval of the director.
(2) A state trust company may acquire a lien upon its own shares if:
(a) The aggregate amount of indebtedness so secured is less than the amount of the state trust company's capital; or
(b) The state trust company obtains the prior written approval of the director.
[ 2014 c 37 § 310.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.090 - Investment of corporate funds—Securities.

RCW 30B.04.090
Investment of corporate funds—Securities.
A state trust company may invest its nonfiduciary corporate funds in investments other than real estate, including securities, that are permissible for state banks under Title 30A RCW, and as may be made applicable for state trust companies by rule of the director.
[ 2014 c 37 § 311.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.100 - Investment in corporations—Subsidiaries.

RCW 30B.04.100
Investment in corporations—Subsidiaries.
Except as otherwise provided by this chapter or rules adopted under this chapter, a state trust company may invest in corporations, limited liability companies, and other entities, and may acquire or establish a *subsidiary to conduct any activity that may lawfully be conducted through the form of organization chosen for the *subsidiary, in accordance with that which is permissible for state banks under RCW 30A.04.125 and 30A.04.127.
[ 2014 c 37 § 312.]
NOTES:
*Reviser's note: RCW 30B.04.005 was amended by 2019 c 389 § 2, deleting the definition of "subsidiary."
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.110 - Pledge of assets.

RCW 30B.04.110
Pledge of assets.
A state trust company may not pledge or create a lien on any of its assets except to secure the repayment of money borrowed or as specifically authorized by RCW 30B.20.010, or by rule, or by a finding of the director that such conduct does not violate any other applicable law and serves the convenience of the state trust company and the public. An act, deed, conveyance, pledge, or contract in violation of this section is void.
[ 2019 c 389 § 5; 2014 c 37 § 313.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.120 - Investment in state trust company facilities.

RCW 30B.04.120
Investment in state trust company facilities.
A state trust company may purchase, hold, and convey real estate, including facilities, for the purposes permissible for state banks under RCW 30A.04.210.
[ 2014 c 37 § 314.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.130 - Separation of trust records—Recordkeeping.

RCW 30B.04.130
Separation of trust records—Recordkeeping.
(1) A state trust company shall keep its fiduciary records separate and distinct from other records of the state trust company.
(2) The fiduciary records must contain all material information relative to each account as appropriate under the circumstances.
(3) A state trust company shall comply with all other conditions and requirements for state banks engaging in trust business and the deposit of securities as set forth in RCW 30A.04.240.
[ 2014 c 37 § 315.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.140 - Legal services, advertising of—Penalty.

RCW 30B.04.140
Legal services, advertising of—Penalty.
RCW 30A.04.260 applies to this title.
[ 2014 c 37 § 316.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.160 - Choice of law clauses.

RCW 30B.04.160
Choice of law clauses.
When there is a choice of law clause contained in a governing instrument in which a state trust company is a party, the choice of law of any state agreed to by the parties to such instrument shall control the interpretation and enforcement of the trust or custodial agreement comprising such instrument.
[ 2014 c 37 § 318.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.170 - Choice of law when instrument silent.

RCW 30B.04.170
Choice of law when instrument silent.
Except as set forth in RCW 30B.04.160, choice of law is governed by RCW 11.98.005.
[ 2014 c 37 § 319.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.04 - General Provisions. › 30B.04.180 - Public notice by electronic means.

RCW 30B.04.180
Public notice by electronic means.
(1) Notwithstanding any provisions of this title, wherever notice by publication is required by a trust institution, such notice may be undertaken by internet publication upon terms and conditions that the director may prescribe 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.
[ 2014 c 37 § 320.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.08 - Organization and Powers. › 30B.08.005 - Who may organize a state trust company.

RCW 30B.08.005
Who may organize a state trust company.
Subject to the other provisions of this chapter, one or more persons may organize a state trust company.
[ 2014 c 37 § 321.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.08 - Organization and Powers. › 30B.08.010 - Formation—Issuance of certificate of authority—Amendment of articles, etc.

RCW 30B.08.010
Formation—Issuance of certificate of authority—Amendment of articles, etc.
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.
[ 2014 c 37 § 322.]
NOTES:
*Reviser's note: RCW 30A.08.170 was repealed by 2019 c 389 § 103.
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.08 - Organization and Powers. › 30B.08.040 - Notice and investigation of application.

RCW 30B.08.040
Notice and investigation of application.
(1) The director shall notify the organizers when the application is complete and accepted for filing and all required fees and deposits have been paid.
(2) At the expense of the organizers, the director shall investigate the application and inquire into the identity and character of each proposed director, manager, officer, managing participant, and principal shareholder or participant.
(3) The financial statement of a proposed officer, director, manager, or managing participant is confidential and not subject to public disclosure under chapter 42.56 RCW.
[ 2019 c 389 § 8; 2014 c 37 § 325.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.08 - Organization and Powers. › 30B.08.050 - Required capital.

RCW 30B.08.050
Required capital.
(1) The director shall at time of application, to organize a state trust company, determine the minimum required initial capitalization of a proposed state trust company in the manner provided for in *RCW 30B.08.030(3)(b)(ii) and as further provided in this section.
(2) The director may consider the following safety and soundness factors when determining minimum required capital, including, but not limited to:
(a) The nature and type of business conducted;
(b) The nature and degree of liquidity in assets held in a corporate capacity;
(c) The amount of fiduciary assets under management;
(d) The type of fiduciary assets held and the depository of such assets;
(e) The complexity of fiduciary duties and degree of discretion undertaken;
(f) The competence and experience of management;
(g) The extent and adequacy of internal controls;
(h) The presence or absence of annual unqualified audits by an independent certified public accountant;
(i) The reasonableness of business plans for retaining or acquiring additional capital;
(j) The existence and adequacy of insurance obtained or held by the trust company for the purpose of protecting its clients, trust beneficiaries, and settlors;
(k) The history of operating losses, if any;
(l) The history of loss, if any, in relation to fiduciary or custodial accounts; and
(m) The amount of support from the state trust company's parent or affiliate.
(3) The effective date of a written finding requiring an existing state trust company to increase its capital must be stated in the written finding as on or after the thirty-first day after the date the written finding is mailed or delivered. Unless the state trust company requests a hearing before the director before the effective date of the written finding, the order becomes effective and is final and nonappealable. This subsection does not prohibit an application to reduce capital requirements of a proposed or an existing state trust company.
(4) Subject to subsection (2) of this section, a state trust company to which the director issues a certificate of authority shall at all times maintain capital in at least the amount required under subsection (1) of this section, plus any additional amount or less any reduction the director directs under subsection (2) of this section.
(5) Notwithstanding any provision of this section, the director may establish by rule safety and soundness standards for minimum required capital, additional required capital, and reduction of capital, for a proposed or existing state trust company.
[ 2014 c 37 § 326.]
NOTES:
*Reviser's note: RCW 30B.08.030 was amended by 2019 c 389 § 7, changing subsection (3) to subsection (5).
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.08 - Organization and Powers. › 30B.08.060 - Capital notes or debentures.

RCW 30B.08.060
Capital notes or debentures.
(1) With the prior written approval of the director, any state trust company may at any time, through action of its board of directors, issue and sell its capital notes or debentures, which shall be subordinate to the claims of depositors and other creditors.
(2) Unless otherwise approved by the director, a state trust company shall conform to all other conditions and requirements of chapter 30A.36 RCW governing capital notes and debentures of state banks.
[ 2014 c 37 § 327.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.08 - Organization and Powers. › 30B.08.070 - Application of general business corporation laws.

RCW 30B.08.070
Application of general business corporation laws.
(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.
[ 2019 c 389 § 9; 2014 c 37 § 328.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.08 - Organization and Powers. › 30B.08.100 - Scope of regulated activities of a state trust company.

RCW 30B.08.100
Scope of regulated activities of a state trust company.
Notwithstanding the definition of "trust business" as set forth in RCW 30B.04.005, the director has the authority to regulate the exercise of all powers and authorities of a state trust company which are enumerated in RCW 30B.08.080 and which may be conferred by way of parity under RCW 30B.38.060.
[ 2014 c 37 § 331.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.08 - Organization and Powers. › 30B.08.110 - Internet trust business.

RCW 30B.08.110
Internet trust business.
(1) A person engaged in trust business in this state by use of the internet is subject to regulation by the department under this title, unless it is:
(a) An out-of-state trust institution approved under chapter 30B.38 RCW or acting under authority of RCW 30B.72.010; or
(b) An exempt person under RCW 30B.04.040.
(2) The director may adopt rules specific to the regulation of internet trust businesses in the interest of protecting Washington state citizens.
[ 2014 c 37 § 332.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.003 - Definitions.

RCW 30B.10.003
Definitions.
As used in this chapter, unless the context clearly appears otherwise, the terms in this section mean:
(1) "Affiliate" means the same as defined in RCW 30B.04.005.
(2) "Agent" means the same as defined in RCW 30B.04.005.
(3) "Cause of action" means any of the acts or omissions giving rise to a violation under this chapter for which the department can pursue administrative remedies.
(4) "Presiding officer" means a person who qualifies as a presiding officer under RCW 34.05.425 and has been authorized to act as presiding officer in an administrative proceeding under this chapter.
(5) "Respondent" means a person against whom the director has issued a notice and statement of charges pursuant to this chapter.
(6) "Third-party service provider" means the same as in RCW 30B.04.005.
[ 2019 c 389 § 13.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.005 - Director supervision over authorized trust institutions.

RCW 30B.10.005
Director supervision over authorized trust institutions.
(1) The director shall exercise supervision authority over state trust companies and also over out-of-state trust institutions as set forth in this chapter or to the extent provided for in cooperative agreements made by the director with the home states of out-of-state trust institutions pursuant to RCW 30B.38.060.
(2) The director shall execute and enforce through the department and such other agents as exist on or after January 5, 2015, all laws which exist on or after January 5, 2015, relating to state trust companies and out-of-state trust institutions engaged in trust business in Washington state.
(3) For the more complete and thorough enforcement of the provisions of this title, the department is authorized to adopt rules not inconsistent with the provisions of this title, as may, in its opinion, be necessary to carry out the provisions of this title and as may be further necessary to insure safe and sound management of trust institutions under its supervision taking into consideration the appropriate interest of the creditors, stockholders, participants, and the public in their relations with such trust institutions.
(4) A state trust company shall conduct its business in a manner consistent with all laws relating to trust companies, and all rules, regulations, and instructions that may be adopted or issued by the department.
[ 2019 c 389 § 14; 2014 c 37 § 333.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.010 - Fee for examination.

RCW 30B.10.010
Fee for examination.
Examination and investigation fees, together with semiannual assessments of state trust companies and all other miscellaneous fees for trust institutions, are governed by RCW 30A.04.070 of the Washington commercial bank act and by rules adopted by the director.
[ 2014 c 37 § 334.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.020 - Director to act under authority of the department's division of banks.

RCW 30B.10.020
Director to act under authority of the department's division of banks.
All the powers, duties, and functions granted to or imposed upon the director under this title shall be exercised under the direction and supervision of the department's division of banks, subject to the delegation, oversight, and supervision of the director. Wherever provision is made in any law in effect on January 5, 2015, authorizing and permitting the director to adopt rules and regulations with respect to any actions or things required to be done under this title, such rules and regulations shall be made by the department's division of banks, and the words "the director" used in such statutes authorizing the director to make rules and regulations, shall be construed to mean the department's division of banks, and the words "department" substituted in such statutes for "director."
[ 2014 c 37 § 335.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.030 - Generally accepted accounting principles.

RCW 30B.10.030
Generally accepted accounting principles.
Unless otherwise provided for by rule of the director or other applicable rule or regulation, a state trust company shall conform to generally accepted accounting principles and applicable rules of the financial accounting standards board.
[ 2014 c 37 § 336.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.040 - Examination standards for state trust companies—Rule making—Special conditions.

RCW 30B.10.040
Examination standards for state trust companies—Rule making—Special conditions.
(1) The director is authorized to adopt rules governing the examination standards for a state trust company, trust department, third-party service provider, and other persons subject to investigation and examination under this title, including the application by rule of examination standards of other federal and state financial institutions regulators and standards adopted from cooperative agreements made by the director under RCW 30B.38.060.
(2) Subject to subsection (3) of this section, such rules shall not be inconsistent with the uniform interagency trust rating system, or its equivalent, of the federal financial institutions examination council or its successor agency; and subject to subsection (3) of this section, the director shall apply the standards of the uniform interagency trust rating system, or its equivalent, in its examination and rating of state trust companies and other persons subject to investigation and examination under this title to the extent that the department has not adopted applicable rules.
(3) Notwithstanding subsection (2) of this section, the director may, in lieu of or in addition to applicable rules, prescribe special conditions for a new state trust company or an out-of-state trust company doing business in Washington state, to the extent that such special conditions contain standards of examination and rating for the state trust company or out-of-state trust company that the director deems necessary to address circumstances including, without limitation, an emerging business model, which do not appear to the director to be contemplated or adequately addressed by the uniform interagency trust rating system, or its equivalent, of the federal financial institutions examination council or its successor agency.
[ 2019 c 389 § 16; 2014 c 37 § 337.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.050 - Duties of persons subject to authority of director—Violations.

RCW 30B.10.050
Duties of persons subject to authority of director—Violations.
(1) Each person subject to the requirement of a certificate of authority or approval from the director pursuant to RCW 30B.04.050, and any director, officer, manager, employee, or agent of such person, shall not engage in any unauthorized trust activity and shall comply with:
(a) This title and Title 11 RCW;
(b) The rules adopted by the director pertaining to this title and compliance with Title 11 RCW;
(c) Any condition in the department's certificate of authority of a state trust company or in the department's approval of an out-of- state trust company doing business in Washington state including, without limitation, any condition of certificate of authority or approval made pursuant to RCW 30B.10.040(3);
(d) Any lawful order of the director;
(e) Any lawful supervisory agreement with the director or supervisory directive of the director; and
(f) All applicable federal laws and regulations affecting trust institutions subject to the authority of the director.
(2) Each affiliate of a person subject to the authority of the director under this title, and any director, officer, manager, employee, or agent of such affiliate, shall not engage in any unauthorized trust activity and shall comply with:
(a) The provisions of this title and Title 11 RCW, to the extent that any act or omission of the affiliate, or a director, officer, manager, employee, or agent of such affiliate, affects the safety and soundness and compliance with the law of a person subject to the authority of this title;
(b) The rules adopted by the director with respect to such affiliate;
(c) Any lawful order of the director;
(d) Any lawful supervisory agreement with the director or supervisory directive of the director; and
(e) All applicable federal laws and regulations affecting a trust institution or its affiliate subject to the authority of the director.
(3) The violation of any supervisory agreement, supervisory directive, order, statute, rule, or regulation referenced in this section, in addition to any other penalty provided in this title, shall, at the option of the director, subject the offender to a penalty of up to ten thousand dollars for each offense, payable upon issuance of any order or directive of the director, which may be recovered by the attorney general in a civil action in the name of the department.
[ 2019 c 389 § 17; 2014 c 37 § 338.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.060 - Governing administrative law and procedure.

RCW 30B.10.060
Governing administrative law and procedure.
The powers and duties of the director and required practices and procedures of the department with respect to all enforcement authority conferred by this title shall be subject to the Washington administrative procedure act, chapter 34.05 RCW, consistent with the administrative procedures applicable to this chapter.
[ 2019 c 389 § 18; 2014 c 37 § 339.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.070 - Administrative orders—Penalties for violation.

RCW 30B.10.070
Administrative orders—Penalties for violation.
In addition to any other powers conferred by this title, the director shall have the power, consistent with the requirements of this chapter, to order:
(1) Any person, its affiliate, or any director, officer, manager, employee, or agent of such person or its affiliate, subject to the authority of RCW 30B.10.050, to cease and desist engaging in any unauthorized trust activity or violating any provision of this title or any lawful rule;
(2) Any state trust institution, its affiliate, or any director, officer, manager, employee, or agent of the state trust institution or its affiliate to cease and desist from a course of conduct that is unsafe or unsound or which is likely to cause insolvency or dissipation of assets or is likely to jeopardize or otherwise seriously prejudice the interests of the public in their relationship with the state trust institution;
(3) Any person, its affiliate, or any director, officer, manager, employee, or agent of such person or its affiliate, subject to the authority of RCW 30B.10.050, to take affirmative action to avoid or refrain from unauthorized trust activity, an unsafe or unsound practice, or other violation of this title;
(4) The imposition of fines;
(5) Restitution to beneficiaries, trustors, or other aggrieved persons;
(6) Costs and expenses related to investigation and enforcement, including attorney fees; and
(7) Other remedies authorized by law.
[ 2019 c 389 § 19; 2014 c 37 § 340.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.080 - Suspension and removal of directors, officers, and employees.

RCW 30B.10.080
Suspension and removal of directors, officers, and employees.
(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.
[ 2019 c 389 § 24; 2014 c 37 § 341.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.090 - Subpoena power and examination under oath.

RCW 30B.10.090
Subpoena power and examination under oath.
The director shall have the power to subpoena witnesses, compel their attendance, require the production of evidence, administer oaths, and examine any person under oath in connection with any subject related to a duty imposed or a power vested in the director.
[ 2014 c 37 § 342.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.100 - Effect of final orders against officers, directors, employees, and agents.

RCW 30B.10.100
Effect of final orders against officers, directors, employees, and agents.
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.
[ 2019 c 389 § 30; 2014 c 37 § 343.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.110 - Director's authority to protect the public and state trust institutions.

RCW 30B.10.110
Director's authority to protect the public and state trust institutions.
(1) Notwithstanding any other provision of this title, the director may by rule or order prohibit any person from engaging in a trust business in Washington state contrary to the requirements of this title if the conduct of the trust business in Washington state by such person harms or is likely to harm the general public, or if it adversely affects the business of state trust institutions.
(2) The director may issue an emergency cease and desist order against such person in the manner provided for in RCW 30B.10.180 if the general public or state trust institutions are likely to be substantially injured by delay in issuing a cease and desist order.
(3) An order or rule made by the director pursuant to this section may require that any applicable person obtain a certificate of authority under chapter 30B.08 RCW as a condition of continuing to engage in a trust business in Washington state, subject to meeting all qualifications for grant of a state trust company certificate of authority under this title.
(4) This section does not apply to a person conducting business pursuant to RCW 30B.04.040, except for a person identifiable solely by reason of RCW 30B.04.040(1).
[ 2019 c 389 § 31; 2014 c 37 § 344.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.120 - Director's subpoenas.

RCW 30B.10.120
Director's subpoenas.
(1) The director or authorized assistants may apply for and obtain a superior court order approving and authorizing a subpoena in advance of its issuance. The application may be made in the county where the subpoenaed person resides or is found, or the county where the subpoenaed documents, records, or evidence are located, or in Thurston county. The application must:
(a) State that an order is sought under this section;
(b) Adequately specify the documents, records, evidence, or testimony; and
(c) Include a declaration made under oath that an investigation is being conducted for a lawfully authorized purpose related to an investigation within the department's authority and that the subpoenaed documents, records, evidence, or testimony are reasonably related to an investigation within the department's authority.
(2) When an application under this section is made to the satisfaction of the court, the court must issue an order approving the subpoena. An order under this subsection constitutes authority of law for the agency to subpoena the documents, records, evidence, or testimony.
(3) The director or authorized assistants may seek approval and a court may issue an order under this section without prior notice to any person, including the person to whom the subpoena is directed and the person who is the subject of an investigation. An application for court approval is subject to the fee and process set forth in RCW 36.18.012(3).
(4) Subsections (1) through (3) of this section are applicable to the director's enforcement authority under this title against persons engaged in unauthorized trust activity and persons, other than a state trust company authorized under this title, whom the director has reason to believe are in violation of this title. This section does not limit the authority of the director to investigate or examine a state trust company authorized under this title without applying for or obtaining a superior court order or issuing a subpoena pursuant to this section.
[ 2014 c 37 § 345.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.130 - Scope of chapter—Remedies.

RCW 30B.10.130
Scope of chapter—Remedies.
(1) This chapter sets forth the authority of the department to supervise and examine state trust institutions and to seek adjudicative enforcement remedies against persons, and their affiliates, officers, directors, managers, employees, and agents, engaged in authorized or nonauthorized and nonexempt trust business in Washington state.
(2) None of the provisions in this chapter shall be deemed to be an exclusive remedy of the department, and the department may, as applicable, exercise other remedies set forth elsewhere in this title and in other Washington law including, without limitation:
(a) The issuance of a supervisory directive, nonadjudicative corrective action order, or nonadjudicative order of conservatorship pursuant to chapter 30B.46 RCW; and
(b) The issuance of nonadjudicative orders for involuntary dissolution and liquidation of a state trust company pursuant to chapter 30B.44B RCW.
[ 2019 c 389 § 12.]
2023 Revised Code of Washington › Title 30B - Washington Trust Institutions Act › Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement. › 30B.10.140 - Hearing—Who may conduct—Authority.

RCW 30B.10.140
Hearing—Who may conduct—Authority.
(1) A hearing pursuant to a notice of charges under this chapter must be conducted in accordance with chapter 34.05 RCW, except to the extent otherwise provided in this chapter.
(2) Such hearing may be held at a place designated by the director and, at the option of the director, may be conducted by a delegated presiding officer whom the director appoints without referral to the office of administrative hearings.
(3) The hearing shall be conducted in accordance with this chapter, chapter 34.05 RCW, and chapters 10-08 and 208-08 WAC.
(4) If the department elects to conduct a hearing as permitted by subsection (2) of this section, the director must appoint a presiding officer from outside the division of banks, who may be either an employee from another division, an independent contractor, or an administrative law judge of the office of administrative hearings.
(5) Such hearing shall be private unless the director determines that a public hearing is necessary to protect the public interest upon good cause shown in a motion by the respondent, if any, to make the hearing public.
(6) The director may elect to either retain authority to issue a final order or may delegate such authority to the presiding officer appointed pursuant to subsection (2) of this section.
[ 2019 c 389 § 20.]