Washington Code 30A.49.100 – Provision for successors to fiduciary positions
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Where a resulting state bank is not to exercise trust powers, the director shall not approve a merger or conversion until satisfied that adequate provision has been made for successors to fiduciary positions held by the merging state or national banks or the converting state or national bank.
Terms Used In Washington Code 30A.49.100
- Fiduciary: A trustee, executor, or administrator.
- Merger: includes consolidation;
Washington Code 30A.49.010National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC