§ 30B.10.110 — Director's authority to protect the public and state trust institutions.

Washington § 30B.10.110

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

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(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 harms or is likely to harm the general public, or if it adversely affects the business of state trust institutions.

(2) The director may issue an emergency cease and desist order against such person in the manner provided for in RCW 30B.10.180 if the general public or state trust institutions are likely to be substantially injured by delay in issuing a cease and desist order.

(3) An order or rule made by the director pursuant to this section may require that any applicable person obtain a certificate of authority under chapter 30B.08 RCW as a condition of continuing to engage in a trust business in Washington state, subject to meeting all qualifications for grant of a state trust company certificate of authority under this title.

(4) This section does not apply to a person conducting business pursuant to RCW 30B.04.040 , except for a person identifiable solely by reason of RCW 30B.04.040 (1).

Legislative History

[2019 c 389 s 31;2014 c 37 s 344.]