Terms Used In Washington Code > Chapter 30B.12 - State trust companies -- Board of directors, officers, and shareholders

• Account: means the client relationship established with a trust company involving the transfer of funds or property to the trust company, including a relationship in which the trust company acts as trustee, executor, administrator, guardian, custodian, conservator, bailee, receiver, registrar, or agent, but excluding a relationship in which the trust company acts solely in an advisory capacity. See Washington Code 30B.04.005
• Affiliate: means a company that controls, is controlled by, or is under common control with a trust institution. See Washington Code 30B.04.005
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bank: has the meaning set forth in 12 U. See Washington Code 30B.04.005
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Company: includes a bank, trust company, corporation, limited liability company, partnership, association, business trust, or another trust. See Washington Code 30B.04.005
• Conservator: means the director or an agent of the director exercising the powers and duties provided in RCW 30B. See Washington Code 30B.04.005
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Department: means the Washington state department of financial institutions. See Washington Code 30B.04.005
• Director: means the director of the Washington state department of financial institutions. See Washington Code 30B.04.005
• Donor: The person who makes a gift.
• Fiduciary: A trustee, executor, or administrator.
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Limited liability trust company: means an entity organized or reorganized under the provisions of RCW 30B. See Washington Code 30B.04.005
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Manager: means a person elected to the board of a limited liability trust company. See Washington Code 30B.04.005
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Officer: means the presiding officer of the board, the principal executive officer, or another officer appointed by the board of a state trust company or other company, or a person or group of persons acting in a comparable capacity for the state trust company or other company. See Washington Code 30B.04.005
• Person: means an individual, a company, or any other legal entity. See Washington Code 30B.04.005
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Quorum: The number of legislators that must be present to do business.
• Shareholder: means the holder of a share as defined in this section. See Washington Code 30B.04.005
• State: means a state of the United States, the District of Columbia, a territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands. See Washington Code 30B.04.005
• State trust company: means a corporation or a limited liability company organized or reorganized under this title, including a trust company organized under the laws of Washington state before January 5, 2015. See Washington Code 30B.04.005
• Trust company: means a state trust company or any other company chartered to act as a fiduciary that is neither a depository institution nor a foreign bank. See Washington Code 30B.04.005
• Trust institution: means a depository institution or foreign bank engaged in trust business, or a trust company. See Washington Code 30B.04.005
• Trustee: A person or institution holding and administering property in trust.