§ 30B.10.070 — Administrative orders—Penalties for violation.

Washington § 30B.10.070

• Jurisdiction: Washington
• Title 30B: WASHINGTON TRUST INSTITUTIONS ACT
• Ch. 30B.10: DIRECTOR'S AUTHORITY—SUPERVISION AND EXAMINATION—ENFORCEMENT

Text

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.

Legislative History

[2019 c 389 s 19;2014 c 37 s 340.]