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 […]
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 […]
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 […]
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 […]
30B.46.120 – Rules.
RCW 30B.46.120 Rules. The director is empowered to adopt and promulgate such rules as may be further necessary, if at all, for the implementation of this chapter and its purposes. [ 2019 c 389 § 91.]
30B.53.002 – Applicability of chapter.
RCW 30B.53.002 Applicability of chapter. This chapter applies to any merger or change of control in which a state trust company is a party. [ 2019 c 389 § 92; 2014 c 37 § 387.]
30B.53.005 – Definitions.
RCW 30B.53.005 Definitions. Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter. (1) “Acquiring person” means a person acquiring or seeking to acquire control of a state trust company, directly or indirectly. (2) “Control,” “controls,” “controlled,” and “controlling” mean: (a) The ownership of or ability or power to vote, […]
30B.53.010 – Approval by director—Required.
RCW 30B.53.010 Approval by director—Required. Upon approval by the director consistent with this chapter, merging trust companies, one of which is a state trust company, may be merged to result in a resulting trust company. [ 2019 c 389 § 96; 2014 c 37 § 389.]
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 […]
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 […]