Recodifies the Revised Code of Washington (RCW) Title 30 regarding banks and trust institutions into two separate titles, RCW 30A and 30B, for banks and trust institutions, respectively.
Clarifies the regulatory powers and duties regarding trust institutions.
Provides that Title 32 RCW is named the Washington Savings Bank Act.
Provides that Title 33 RCW is named the Washington Savings Association Act.
From the House Bill Report (SB 6135), written by the Legislature's nonpartisan staff. Read the full report ↗
AN ACT Relating to the modernization, clarification, reorganization, and amendment of the laws respecting the charter and regulation of Washington state nondepository trust companies, fiduciary activities and trust business of state commercial banks, alien banks, state savings banks, and state savings associations, and fiduciary activities and trust business of other trust institutions and persons engaging in trust business in this state;