RCW 30B.53.005
Definitions.
Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.
(1) "Acquiring person" means a person acquiring or seeking to acquire control of a state trust company, directly or indirectly.
(2) "Control," "controls," "controlled," and "controlling" mean:
(a) The ownership of or ability or power to vote, directly, acting through one or more other persons, or otherwise indirectly, twenty-five percent or more of the outstanding shares of a class of voting securities of a state trust company or other company;
(b) The ability to control the election of a majority of the board of a state trust company or other company;
(c) The power to exercise, directly or indirectly, a controlling influence over the management or policies of the state trust company or other company as determined by the director after notice and an opportunity for hearing; or
(d) The conditioning of the transfer of twenty-five percent or more of the outstanding shares or participation shares of a class of voting securities of a state trust company on the transfer of twenty-five percent or more of the outstanding shares of a class of voting securities of another state trust company or other company.
(3) "Merger" includes consolidation.
(4) "Merging trust company" means a party to a merger.
(5) "Resulting trust company" means the trust company resulting from a merger.
[ 2019 c 389 § 93; 2014 c 37 § 388.]
Structure Revised Code of Washington
Title 30B - Washington Trust Institutions Act
Chapter 30B.53 - State Trust Companies—Merger, Consolidation, and Conversion.
30B.53.002 - Applicability of chapter.
30B.53.010 - Approval by director—Required.
30B.53.030 - Approval by shareholders—Voting—Notice.
30B.53.040 - Effective date of merger—Certificate of merger.
30B.53.050 - Resulting trust company—Property, rights, powers, and duties.
30B.53.060 - Dissenting shareholders—May receive value in cash—Appraisal.
30B.53.070 - Valuation of assets—Books of merging trust company.