RCW 30B.10.050
Duties of persons subject to authority of director—Violations.
(1) Each person subject to the requirement of a certificate of authority or approval from the director pursuant to RCW 30B.04.050, and any director, officer, manager, employee, or agent of such person, shall not engage in any unauthorized trust activity and shall comply with:
(a) This title and Title 11 RCW;
(b) The rules adopted by the director pertaining to this title and compliance with Title 11 RCW;
(c) Any condition in the department's certificate of authority of a state trust company or in the department's approval of an out-of- state trust company doing business in Washington state including, without limitation, any condition of certificate of authority or approval made pursuant to RCW 30B.10.040(3);
(d) Any lawful order of the director;
(e) Any lawful supervisory agreement with the director or supervisory directive of the director; and
(f) All applicable federal laws and regulations affecting trust institutions subject to the authority of the director.
(2) Each affiliate of a person subject to the authority of the director under this title, and any director, officer, manager, employee, or agent of such affiliate, shall not engage in any unauthorized trust activity and shall comply with:
(a) The provisions of this title and Title 11 RCW, to the extent that any act or omission of the affiliate, or a director, officer, manager, employee, or agent of such affiliate, affects the safety and soundness and compliance with the law of a person subject to the authority of this title;
(b) The rules adopted by the director with respect to such affiliate;
(c) Any lawful order of the director;
(d) Any lawful supervisory agreement with the director or supervisory directive of the director; and
(e) All applicable federal laws and regulations affecting a trust institution or its affiliate subject to the authority of the director.
(3) The violation of any supervisory agreement, supervisory directive, order, statute, rule, or regulation referenced in this section, in addition to any other penalty provided in this title, shall, at the option of the director, subject the offender to a penalty of up to ten thousand dollars for each offense, payable upon issuance of any order or directive of the director, which may be recovered by the attorney general in a civil action in the name of the department.
[ 2019 c 389 § 17; 2014 c 37 § 338.]
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.