General prohibition on deposit taking

Revised Code of Washington

Section: 30B.20.005

Jurisdiction: WA

Bluebook Citation: Wash. Rev. Code § 30B.20.005

Except as authorized by this chapter or other governing law, a trust company may not take or hold deposits of funds in this state unless:(1) It is authorized to do business in this state as a depository institution; and(2) Complies with all applicable federal and state laws and regulations respecting the taking and handling of monetary deposits.

Chat with this statute using AI

Ask CiteLaw's AI Navigator anything about this statute, verify citations, and research related authorities. Sign up for CiteLaw free today to get started.