Code · Washington · Title 30B — Washington Trust Institutions Act · Chapter 30B.44B

RCW 30B.44B.110

109 words·~1 min read·/wa/title-30b/chapter-30b-44b/30b-44b-110·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Any transfer of its property or assets by a state trust company, made

(a)in contemplation of insolvency or after it shall have become insolvent,

(b)within ninety days before the date the director takes possession of such state trust company, and

(c)with a view to the preference of one creditor over another or to prevent the equal distribution of its property and assets among its creditors, shall be void.

(2)Every director, officer, or employee of a state trust company making any such transfer of assets is guilty of a class B felony punishable according to chapter 9A.20 RCW.

[ 2019 c 389 s 72 .]