RCW 30B.46.050
Supervisory directive or corrective action order—Restrictions on operations—Other requirements.
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.
[ 2019 c 389 § 84.]
Structure Revised Code of Washington
Title 30B - Washington Trust Institutions Act
Chapter 30B.46 - State Trust Companies—Supervisory Direction and Conservatorship.
30B.46.020 - Scope of chapter—Corrective action measures.
30B.46.030 - Supervisory directive.
30B.46.040 - Supervisory directive or corrective action order—Appointment of representative.
30B.46.060 - Supervisory directive or corrective action order—Conservator.
30B.46.070 - Costs as charge against assets.
30B.46.080 - Request for review of action—Stay of action—Orders subject to review.
30B.46.090 - Suit against state trust company or conservator—Where brought—Suit by conservator.
30B.46.100 - Duration of conservator's term—Rehabilitated state trust company—Management.
30B.46.110 - Plenary authority of director—Flexibility in use of remedies.