§ 30B.53.050 — Resulting trust company—Property, rights, powers, and duties.

Washington § 30B.53.050

• Jurisdiction: Washington
• Title 30B: WASHINGTON TRUST INSTITUTIONS ACT
• Ch. 30B.53: STATE TRUST COMPANIES—MERGER, CONSOLIDATION, AND CONVERSION

Text

(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. A resulting trust company has the right to use the name of any merging trust company whenever it can do any act under such name more conveniently.

(2) Any reference to a merging trust company in any writing, whether executed or taking effect before or after the merger, is a reference to the resulting trust company if not inconsistent with the other provisions of that writing.

Legislative History

[2014 c 37 s 393.]