RCW 30B.10.040
Examination standards for state trust companies—Rule making—Special conditions.
(1) The director is authorized to adopt rules governing the examination standards for a state trust company, trust department, third-party service provider, and other persons subject to investigation and examination under this title, including the application by rule of examination standards of other federal and state financial institutions regulators and standards adopted from cooperative agreements made by the director under RCW 30B.38.060.
(2) Subject to subsection (3) of this section, such rules shall not be inconsistent with the uniform interagency trust rating system, or its equivalent, of the federal financial institutions examination council or its successor agency; and subject to subsection (3) of this section, the director shall apply the standards of the uniform interagency trust rating system, or its equivalent, in its examination and rating of state trust companies and other persons subject to investigation and examination under this title to the extent that the department has not adopted applicable rules.
(3) Notwithstanding subsection (2) of this section, the director may, in lieu of or in addition to applicable rules, prescribe special conditions for a new state trust company or an out-of-state trust company doing business in Washington state, to the extent that such special conditions contain standards of examination and rating for the state trust company or out-of-state trust company that the director deems necessary to address circumstances including, without limitation, an emerging business model, which do not appear to the director to be contemplated or adequately addressed by the uniform interagency trust rating system, or its equivalent, of the federal financial institutions examination council or its successor agency.
[ 2019 c 389 § 16; 2014 c 37 § 337.]
Structure Revised Code of Washington
Title 30B - Washington Trust Institutions Act
Chapter 30B.10 - Director's Authority—Supervision and Examination—Enforcement.
30B.10.005 - Director supervision over authorized trust institutions.
30B.10.010 - Fee for examination.
30B.10.020 - Director to act under authority of the department's division of banks.
30B.10.030 - Generally accepted accounting principles.
30B.10.040 - Examination standards for state trust companies—Rule making—Special conditions.
30B.10.045 - Examinations—Requirements—Reciprocal agreements permitted—Records, books, and accounts.
30B.10.050 - Duties of persons subject to authority of director—Violations.
30B.10.060 - Governing administrative law and procedure.
30B.10.070 - Administrative orders—Penalties for violation.
30B.10.080 - Suspension and removal of directors, officers, and employees.
30B.10.090 - Subpoena power and examination under oath.
30B.10.100 - Effect of final orders against officers, directors, employees, and agents.
30B.10.110 - Director's authority to protect the public and state trust institutions.
30B.10.120 - Director's subpoenas.
30B.10.130 - Scope of chapter—Remedies.
30B.10.140 - Hearing—Who may conduct—Authority.
30B.10.150 - Notice of charges.
30B.10.160 - Hearing—Schedule—Default.
30B.10.170 - Hearing—Order—Review or appeal.
30B.10.180 - Emergency order—Judicial review.
30B.10.190 - Order of prohibition against third-party service providers—Grounds—Notice.
30B.10.210 - Authority of director to seek removal by the board of a state trust company.
30B.10.220 - Jurisdiction of courts as to the department's enforcement orders—Venue.