Washington § 30B.46.050 Supervisory directive or corrective action order—Restrictions on operations—Other requirements.

Washington Statutes

§ 30B.46.050 — Supervisory directive or corrective action order—Restrictions on operations—Other requirements.

Washington § 30B.46.050

Title 30BWASHINGTON TRUST INSTITUTIONS ACT

Ch. 30B.46STATE TRUST COMPANIES—SUPERVISORY DIRECTION AND CONSERVATORSHIP

This text of Washington § 30B.46.050 (Supervisory directive or corrective action order—Restrictions on operations—Other requirements.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wash. Rev. Code § 30B.46.050 (2026).

Text

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 of its assets;

(2)Acquire new trust assets under management;

(3)Dispose of existing trust assets under management;

(4)Withdraw any of its own funds from bank accounts;

(5)Lend any of its funds;

(6)Invest any of its funds;

(7)Transfer any of its property;

(8)Incur any debt, obligation, or liability;

(9)Change the composition of the board of directors or management; or

(10)Any other written restriction or requirement as determined by the director.

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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 of its assets;

(2) Acquire new trust assets under management;

(3) Dispose of existing trust assets under management;

(4) Withdraw any of its own funds from bank accounts;

(5) Lend any of its funds;

(6) Invest any of its funds;

(7) Transfer any of its property;

(8) Incur any debt, obligation, or liability;

(9) Change the composition of the board of directors or management; or

(10) Any other written restriction or requirement as determined by the director.