Title 30B — Title 30B WASHINGTON TRUST INSTITUTIONS ACT
14 chapters · 156 sections in this title.
RCW 30B.10.003 Definitions.
0.8K chars
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 givin…
RCW 30B.10.005 Director supervision over authorized trust institutions.
1.4K chars
(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 inst…
RCW 30B.10.010 Fee for examination.
0.3K chars
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 s 334.]
RCW 30B.10.020 Director to act under authority of the department's division of banks.
0.8K chars
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 i…
RCW 30B.10.030 Generally accepted accounting principles.
0.3K chars
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 s 336.]
RCW 30B.10.040 Examination standards for state trust companies—Rule making—Special conditions.
1.8K chars
(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 examinati…
RCW 30B.10.045 Examinations—Requirements—Reciprocal agreements permitted—Records, books, and accounts.
4.2K chars
(1) The director shall visit each state trust company at least once every twenty-four months, and more often as determined by the director, for the purpose of making a full investigation into the condition of such state trust company.(2) The director may make such other full or p…
RCW 30B.10.050 Duties of persons subject to authority of director—Violations.
2.3K chars
(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) …
RCW 30B.10.060 Governing administrative law and procedure.
0.4K chars
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 p…
RCW 30B.10.070 Administrative orders—Penalties for violation.
1.4K chars
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 …
RCW 30B.10.080 Suspension and removal of directors, officers, and employees.
2.3K chars
(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 e…
RCW 30B.10.090 Subpoena power and examination under oath.
0.3K chars
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 s 342.]
RCW 30B.10.100 Effect of final orders against officers, directors, employees, and agents.
1.0K chars
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…
RCW 30B.10.110 Director's authority to protect the public and state trust institutions.
1.2K chars
(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 ha…
RCW 30B.10.120 Director's subpoenas.
2.0K chars
(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…
RCW 30B.10.130 Scope of chapter—Remedies.
0.9K chars
(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 nonaut…
RCW 30B.10.140 Hearing—Who may conduct—Authority.
1.3K chars
(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, …
RCW 30B.10.150 Notice of charges.
1.5K chars
(1) The director may issue and serve a notice of charges upon:(a) A state trust institution;(b) An affiliate of a state trust institution;(c) A director, officer, manager, employee, or agent of a state trust institution or its affiliate; or(d) Any other person subject to the juri…
RCW 30B.10.160 Hearing—Schedule—Default.
0.8K chars
(1) The hearing shall be held not earlier than ten days or later than thirty days after service of the notice set forth in RCW 30B.10.150, unless a later date is set by the director for good cause as requested by the respondent.(2) Unless the respondent appears at the hearing set…
RCW 30B.10.170 Hearing—Order—Review or appeal.
0.8K chars
(1) The presiding officer shall have sixty days after the hearing to issue an order, including findings of fact and conclusions of law, consistent with RCW 34.05.461(3).(2) If the director has not delegated his or her authority to a presiding officer to issue a final order, a par…
RCW 30B.10.180 Emergency order—Judicial review.
3.2K chars
(1) When the director finds it necessary for one or more of the purposes set forth in subsection (2) of this section, the director may issue and serve an emergency order upon:(a) A state trust institution, its affiliate, a director, officer, manager, employee, or agent of such st…
RCW 30B.10.190 Order of prohibition against third-party service providers—Grounds—Notice.
1.3K chars
(1) The director may issue and serve a state trust institution, or its affiliate, with written notice of intent to prohibit it from permitting a third-party service provider of such state trust institution or affiliate from participating in the conduct of the affairs of the state…
RCW 30B.10.200 Notice of intention to remove or prohibit participation in conduct of affairs—Hearing—Order.
1.6K chars
(1) A notice pursuant to RCW 30B.10.080 or 30B.10.190 shall:(a) Contain a statement of the facts that constitute grounds for removal or prohibition; and(b) Set a time and place at which a hearing will be held.(2) The hearing shall be set not earlier than ten days or later than th…
RCW 30B.10.210 Authority of director to seek removal by the board of a state trust company.
2.9K chars
(1) In addition to any other remedy set forth in this chapter, the director may notify, in writing, the board of directors of any state trust company that the director has information that any member of the board of directors, officer, manager, employee, or agent of the state tru…
RCW 30B.10.220 Jurisdiction of courts as to the department's enforcement orders—Venue.
0.9K chars
(1) The director may apply to a superior court of Washington for the enforcement of any effective and outstanding final order issued pursuant to this chapter, and the superior court shall have jurisdiction to order compliance with such final order.(2) No court shall have jurisdic…
RCW 30B.10.230 General penalty—Effect of conviction.
0.6K chars
(1) A person who shall knowingly violate or knowingly aid or abet the violation of any provision of RCW 30B.10.050 shall be guilty of a misdemeanor.(2) A director, officer, manager, employee, or agent of a state trust institution or affiliate who has had imposed upon him or her a…
RCW 30B.10.240 Statute of limitations.
1.0K chars
(1) An action seeking any remedy under RCW 30B.10.070, 30B.10.080, or 30B.10.190 shall commence no later than five years after the cause of action accrued.(2) A cause of action under this section is deemed to have accrued at the later of the following events:(a) The occurrence of…