RCW 30B.44B.110
Preferences prohibited—Penalty.
(1) Any transfer of its property or assets by a state trust company, made (a) in contemplation of insolvency or after it shall have become insolvent, (b) within ninety days before the date the director takes possession of such state trust company, and (c) with a view to the preference of one creditor over another or to prevent the equal distribution of its property and assets among its creditors, shall be void.
(2) Every director, officer, or employee of a state trust company making any such transfer of assets is guilty of a class B felony punishable according to chapter 9A.20 RCW.
[ 2019 c 389 § 72.]
Structure Revised Code of Washington
Title 30B - Washington Trust Institutions Act
Chapter 30B.44B - State Trust Companies—Involuntary Dissolution and Liquidation.
30B.44B.005 - When director may take possession.
30B.44B.010 - Mutual consent to dissolution and liquidation.
30B.44B.040 - Director's right to take possession may be contested.
30B.44B.050 - Powers and duties of director—Prohibition against liens.
30B.44B.060 - Notice to creditors—Claims.
30B.44B.070 - Executory contract or unexpired lease—Permitted actions by director.
30B.44B.080 - Inventory—List of claims.
30B.44B.090 - Objections to approved claims.
30B.44B.100 - Temporary receiver—Prohibited except in emergency.
30B.44B.110 - Preferences prohibited—Penalty.
30B.44B.120 - Expense of liquidation—Priority for director's expenses.
30B.44B.130 - Liquidation after claims are paid.
30B.44B.140 - Disposition of unclaimed personal property.
30B.44B.150 - Disposition of unclaimed personal property—Final notice—Sale.
30B.44B.160 - Disposition of unclaimed personal property—Monetary funds.