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Current as of January 01, 2025 | Updated by Findlaw Staff
The board of a state trust company is responsible for the proper exercise of fiduciary powers by the state trust company and each matter pertinent to the exercise of fiduciary powers, including:
(1) The determination of policies;
(2) The investment and disposition of property held in a fiduciary capacity;
(3) The direction and review of the actions of each officer, manager, employee, committee, and agent used by the state trust company in the exercise of its fiduciary powers; and
(4) Every other requirement of the board as set forth in RCW 30B.24.030 and in conformity with the contents of the state trust company's written statement of principles of trust management, pursuant to RCW 30B.24.040, as adopted by the board and subject to approval of the department.
Cite this article: FindLaw.com - Washington Revised Code Title 30B. Washington Trust Institutions Act § 30B.12.060. Board's responsibility - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-30b-washington-trust-institutions-act/wa-rev-code-30b-12-060/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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