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 […]
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. […]
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 […]
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 […]
30B.46.110 – Plenary authority of director—Flexibility in use of remedies.
RCW 30B.46.110 Plenary authority of director—Flexibility in use of remedies. (1) If the director determines to act under authority of this chapter, the sequence of his or her acts and proceedings shall be as set forth in this chapter. (2) However, the director may, in the exercise of broad administrative discretion, proceed in lieu of […]
30B.46.020 – Scope of chapter—Corrective action measures.
RCW 30B.46.020 Scope of chapter—Corrective action measures. (1) The purpose of this chapter is to provide expeditious methods for the department to exercise proper supervision over the safety and soundness of state trust companies in the interest of Washington state’s fiduciary industry and the general public. To that end, this chapter prescribes a series of […]
30B.46.030 – Supervisory directive.
RCW 30B.46.030 Supervisory directive. (1) If, upon examination or investigation, or at any other time, it appears to the director that a state trust company is in an unsafe condition and its condition is such as to render the continuance of its business, without the director’s supervisory directive, harmful to the public or to its […]
30B.46.040 – Supervisory directive or corrective action order—Appointment of representative.
RCW 30B.46.040 Supervisory directive or corrective action order—Appointment of representative. During the period of a supervisory directive or corrective action order, the director may appoint a representative to supervise the state trust company. [ 2019 c 389 § 83.]
30B.46.050 – Supervisory directive or corrective action order—Restrictions on operations—Other requirements.
RCW 30B.46.050 Supervisory directive or corrective action order—Restrictions on operations—Other requirements. A supervisory directive or corrective action order may provide that the state trust company not do any of the following during the period of supervisory direction, without the prior approval of the director or the appointed representative: (1) Dispose of, convey, or encumber any […]
30B.46.060 – Supervisory directive or corrective action order—Conservator.
RCW 30B.46.060 Supervisory directive or corrective action order—Conservator. (1) If the director determines that a state trust company has failed to comply with the lawful requirements imposed by such supervisory directive or corrective action order, the director may by order, with or without consent of the state trust company, appoint a conservator for the state […]