Washington § 30B.20.010 - Trust deposits as a client investment — Security fund.

Full text of Washington Revised Code of Washington § 30B.20.010 — Trust deposits as a client investment — Security fund., with citation guidance and answers to common questions.

§ 30B.20.010. Trust deposits as a client investment — Security fund.

(1) The director may establish by rule a plan for the safe and sound deposit of trust funds by a state trust company with itself as an investment, if:
(a) The investment of the trust deposits is authorized in writing by the settlor or the beneficiary;
(b) The state trust company maintains as security for the trust deposits a separate fund of securities, which are permissible for trust investments, under control of a federal reserve bank or a clearing corporation, either in this state or elsewhere;
(c) The total market value of the security is at all times at least equal to the amount of the deposit;
(d) The separate fund is designated as security for trust deposits;
(e) The separate fund is maintained under the control of a bank or government agency; and
(f) The state trust company complies with such other terms and conditions as the director may establish by rule in the interest of safety and soundness and protection of the public.
(2) A state trust company may make periodic withdrawals from or additions to the securities fund required by subsection (1) of this section as long as the required value is maintained.
(3) Income from the securities in the fund belongs to the state trust company.
[ 2014 c 37 s 361.]

Source: official Washington text · Last verified 2026-08-27

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Frequently Asked Questions About Washington § 30B.20.010

What does Revised Code of Washington § 30B.20.010 cover?

Section 30B.20.010 ("Trust deposits as a client investment — Security fund.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Washington § 30B.20.010?

A common citation format is "Revised Code of Washington § 30B.20.010" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 30B.20.010 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

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