Washington § 30B.46.050 - Supervisory directive or corrective action order — Restrictions on operations — Other requirements.

Full text of Washington Revised Code of Washington § 30B.46.050 — Supervisory directive or corrective action order — Restrictions on operations — Other requirements., with citation guidance and answers to common questions.

§ 30B.46.050. Supervisory directive or corrective action order — Restrictions on operations — Other requirements.

A supervisory directive or corrective action order may provide that the state trust company not do any of the following during the period of supervisory direction, without the prior approval of the director or the appointed representative:
(1) Dispose of, convey, or encumber any of its assets;
(2) Acquire new trust assets under management;
(3) Dispose of existing trust assets under management;
(4) Withdraw any of its own funds from bank accounts;
(5) Lend any of its funds;
(6) Invest any of its funds;
(7) Transfer any of its property;
(8) Incur any debt, obligation, or liability;
(9) Change the composition of the board of directors or management; or
(10) Any other written restriction or requirement as determined by the director.
[ 2019 c 389 s 84.]

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Frequently Asked Questions About Washington § 30B.46.050

What does Revised Code of Washington § 30B.46.050 cover?

Section 30B.46.050 ("Supervisory directive or corrective action order — Restrictions on operations — Other requirements.") 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.46.050?

A common citation format is "Revised Code of Washington § 30B.46.050" (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.46.050 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.

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