Private trusts and private trust companies exempt—Exception for change of control.

  1. Law
  2. Revised Code of Washington
  3. Washington Trust Institutions Act
  4. Private Trusts and Private Trust Companies.
  5. Private trusts and private trust companies exempt—Exception for change of control.

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(1) A private trust or private trust company is exempt from the requirement of a certificate of authority or regulation under this title.

(2) Notwithstanding subsection (1) of this section, a transfer or change of control of a private trust or private trust company to a person or persons other than family members constitutes unauthorized trust activity unless the resulting private trust company is a trust institution authorized to do business in this state.

[ 2014 c 37 § 398.]


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