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Revised Code of Washington (RCW) (Last Updated: August 9, 2016) |
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Title 30A. WASHINGTON COMMERCIAL BANK ACT |
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Chapter 30A.08. Organization and powers. |
Section 30A.08.170. Securities may be held in name of nominee.
Latest version.
- Any trust company incorporated under the laws of this state and any national banking association authorized to act in a fiduciary capacity in this state, when acting in a fiduciary capacity, either alone or jointly with an individual or individuals, may, with the consent of such individual fiduciary or fiduciaries, who are hereby authorized to give such consent, cause any stocks, securities, or other property now held or hereafter acquired to be registered and held in the name of a nominee or nominees of such corporate or association fiduciary without mention of the fiduciary relationship. Any such fiduciary shall be liable for any loss occasioned by the acts of any of its nominees with respect to such stocks, securities or other property so registered.