Wash. Rev. Code § 30A.08.150

Current through 2024

Section 30A.08.150 - Banks engaged in trust business

(1) Upon the issuance of a certificate of authority to a bank, the persons named in the articles of incorporation and their successors shall have the power to engage in trust business and other business the same as a state trust company as set forth in *RCW 30B.08.080(1) (b) through (q).

(2) Notwithstanding the powers of a trust business set forth in *RCW 30B.08.080(1) (b) through (k) and as the director may designate by rule pursuant to *RCW 30B.08.080(1)(q), a bank shall notify the director prior to commencing trust business, and comply with additional preconditions as may be required by the board of governors of the federal reserve system, the federal deposit insurance corporation, or by rule adopted by the director.

(3) A bank under this title is deemed to be a trust company for purposes of authorization to be a personal representative under RCW 11.36.010.

RCW 30A.08.150

Amended by 2014 c 37,§ 167, eff. 1/5/2015.

Recodified from 30.08.150 by 2014 c 37,§ 4, eff. 1/5/2015.

Amended by 2011 c 336,§ 746, eff. 7/22/2011.

1973 1st ex.s. c 154 § 48; 1955 c 33 § 30.08.150. Prior: 1929 c 72 § 4, part; 1923 c 115 § 6, part; 1921 c 94 § 1, part; 1917 c 80 § 24, part; RRS § 3231, part.

*Reviser's note:RCW 30B.08.080 was amended by 2019 c 389 s 10, changing subsection (1)(a) through (q) to subsection (1)(a) through (d).

Severability-1973 1st ex.s. c 154: See note following RCW 2.12.030.