Washington Code > Chapter 4.44 – Trial
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Terms Used In Washington Code > Chapter 4.44 - Trial
- Account: means the client relationship established with a trust company involving the transfer of funds or property to the trust company, including a relationship in which the trust company acts as trustee, executor, administrator, guardian, custodian, conservator, bailee, receiver, registrar, or agent, but excluding a relationship in which the trust company acts solely in an advisory capacity. See Washington Code 30B.04.005
- Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Affiliate: means a company that controls, is controlled by, or is under common control with a trust institution. See Washington Code 30B.04.005
- Affiliate: means the same as defined in RCW 30B. See Washington Code 30B.10.003
- Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
- Agent: means the same as defined in RCW 30B. See Washington Code 30B.10.003
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Amortization: Paying off a loan by regular installments.
- Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- Appraisal: A determination of property value.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
- Bank: has the meaning set forth in 12 U. See Washington Code 30B.04.005
- Bank: means any national bank, state bank, and district bank, as those terms are defined in 12 U. See Washington Code 30A.38.005
- Bank holding company: has the meaning set forth in 12 U. See Washington Code 30A.38.005
- Bank supervisory agency: means :
Washington Code 30A.38.005Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings. Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC Board: means the board of directors of a credit union. See Washington Code 31.12.005 Board officer: means an officer of the board elected under RCW 31. See Washington Code 31.12.005 Branch: means an office of a bank through which it receives deposits, other than its principal office. See Washington Code 30A.38.005 Capital: has the meaning ascribed to that term by generally accepted accounting principles and applicable rules of the financial accounting standards board, and includes surplus and undivided profits. See Washington Code 30B.04.005 Capital: means a credit union's reserves, undivided earnings, and allowance for loan and lease losses, and other items that may be included under RCW 31. See Washington Code 31.12.005 Case law: The law as laid down in cases that have been decided in the decisions of the courts. Cause of action: means any of the acts or omissions giving rise to a violation under this chapter for which the department can pursue administrative remedies. See Washington Code 30B.10.003 Client: means a person to whom a trust institution owes a duty or obligation under a trust or other account administered by the trust institution or as an advisor or agent, regardless of whether the trust institution owes a fiduciary duty to the person. See Washington Code 30B.04.005 Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action. Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. Source: OCC Company: includes a bank, trust company, corporation, limited liability company, partnership, association, business trust, or another trust. See Washington Code 30B.04.005 Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant. Conservator: means the director or an agent of the director exercising the powers and duties provided in RCW 30B. See Washington Code 30B.04.005 Continuance: Putting off of a hearing ot trial until a later time. Contract: A legal written agreement that becomes binding when signed. Control: shall be construed consistently with the provisions of 12 U. See Washington Code 30A.38.005 Converting bank: means a bank converting from a state to a national bank, or the reverse;
Washington Code 30A.49.010Conviction: A judgement of guilt against a criminal defendant. corporate: means a credit union organized under this chapter. See Washington Code 31.13.010 Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name. Credit bureau: An agency that collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies. (Also commonly referred to as consumer-reporting agency or credit-reporting agency.) Source: OCC Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC Credit union: means a credit union organized and operating under this chapter. See Washington Code 31.12.005 Credit union service organization: means an organization that a credit union has invested in pursuant to RCW 31. See Washington Code 31.12.005 Custodial account: means an account, established by a person with a bank as defined in 26 U. See Washington Code 30B.04.005 Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. De novo branch: means a branch of a bank located in a host state which:
Washington Code 30A.38.005Decedent: A deceased person. Deed: The legal instrument used to transfer title in real property from one person to another. Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. Department: means the Washington state department of financial institutions. See Washington Code 30B.04.005 Department: means the department of financial institutions. See Washington Code 31.12.005 Depository institution: means any company chartered to act as a fiduciary and included for any purpose within any of the definitions of "insured depository institution" as set forth in 12 U. See Washington Code 30B.04.005 Director: means the director of the Washington state department of financial institutions. See Washington Code 30B.04.005 Director: means the director of financial institutions. See Washington Code 31.12.005 Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Docket: A log containing brief entries of court proceedings. Donor: The person who makes a gift. Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC Escrow: Money given to a third party to be held for payment until certain conditions are met. Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Executor: A male person named in a will to carry out the decedent Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC Fair Debt Collection Practices Act: The Fair Debt Collection Practices Act is a set of United States statutes added as Title VIII of the Consumer Credit Protection Act. Its purpose is to ensure ethical practices in the collection of consumer debts and to provide consumers with an avenue for disputing and obtaining validation of debt information in order to ensure the information's accuracy. It is often used in conjunction with the Fair Credit Reporting Act. Source: OCC Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller. Federal credit union: means a credit union organized and operating under the laws of the United States. See Washington Code 31.12.005 Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC Federal trust institution: means a special purpose national banking association authorized by the office of the comptroller of the currency, pursuant to the national bank act, 12 U. See Washington Code 30B.04.005 Fiduciary: A trustee, executor, or administrator. Financial institution: means any commercial bank, trust company, savings bank, or savings and loan association, whether state or federally chartered, and any credit union, out-of-state credit union, or federal credit union. See Washington Code 31.12.005 Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006. Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC Foreign bank: means a foreign bank, as defined in section 1(b)(7) of the international banking act of 1978, chartered to act as a fiduciary in a state other than Washington state. See Washington Code 30B.04.005 Foreign credit union: means a credit union organized and operating under the laws of another country or other foreign jurisdiction. See Washington Code 31.12.005 Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC Fraud: Intentional deception resulting in injury to another. Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs. Home state: means :
Washington Code 30B.04.005Home state: means with respect to a:
Washington Code 30A.38.005Home state regulator: means the trust institutions supervisory agency with primary responsibility for chartering and supervising an out-of-state trust institution. See Washington Code 30B.04.005 Home state regulator: means , with respect to an out-of-state state bank, the bank supervisory agency of the state in which the bank is chartered. See Washington Code 30A.38.005 Host state: means a state, other than the home state of a trust institution, or a foreign country in which the trust institution maintains or seeks to acquire or establish an office. See Washington Code 30B.04.005 Host state: means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain a branch. See Washington Code 30A.38.005 Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury. Insolvency: means :
Washington Code 31.12.005Insolvent: means a circumstance or condition in which a state trust company:
Washington Code 30B.04.005Instrument: means a revocable or irrevocable trust document created inter vivos or testamentary or any custodial account agreement. See Washington Code 30B.04.005 Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes. Inter vivos: Transfer of property from one living person to another living person. Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC Interstate combination: means the:
Washington Code 30A.38.005Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor. Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Juror: A person who is on the jury. Law firm: means a professional service corporation, professional limited liability company, or limited liability partnership, that is duly organized under the laws of Washington state and whose shareholders, members, or partners, respectively, are exclusively attorneys. See Washington Code 30B.04.005 Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto). Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Lien: A claim against real or personal property in satisfaction of a debt. Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant). Limited liability trust company: means an entity organized or reorganized under the provisions of RCW 30B. See Washington Code 30B.04.005 Lineal descendant: Direct descendant of the same ancestors. Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Loan: means any loan, overdraft line of credit, extension of credit, or lease, in whole or in part. See Washington Code 31.12.005 Loans and extensions of credit: means direct or indirect advances of funds by a state trust company to a person that are conditioned on the obligation of the person to repay the funds or that are repayable from specific property pledged by or on behalf of the person. See Washington Code 30B.04.005 Manager: means a person elected to the board of a limited liability trust company. See Washington Code 30B.04.005 Material violation of law: means :
Washington Code 31.12.005Merger: includes consolidation;
Washington Code 30A.49.010Mortgage: The written agreement pledging property to a creditor as collateral for a loan. mortgage: as used in this title includes deed of trust. See Washington Code 32.04.022 Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC Mortgagee: The person to whom property is mortgaged and who has loaned the money. National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC National Bank Examiner: An employee of the Comptroller of the Currency whose function is to examine national banks periodically to determine the financial position of a bank and the security of its deposits. The examiner also verifies that the bank maintains procedures consistent with federal banking laws and regulations. Source: OCC National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC Net worth: means a credit union's capital, less the allowance for loan and lease losses. See Washington Code 31.12.005 Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose. Oath: A promise to tell the truth. Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Officer: means the presiding officer of the board, the principal executive officer, or another officer appointed by the board of a state trust company or other company, or a person or group of persons acting in a comparable capacity for the state trust company or other company. See Washington Code 30B.04.005 Operating officer: means an employee of a credit union designated as an officer pursuant to RCW 31. See Washington Code 31.12.005 Organization: means a corporation, partnership, association, limited liability company, trust, or other organization or entity. See Washington Code 31.12.005 Out-of-state bank: means a bank whose home state is a state other than Washington. See Washington Code 30A.38.005 Out-of-state credit union: means a credit union organized and operating under the laws of another state or United States territory or possession. See Washington Code 31.12.005 Out-of-state state bank: means a bank chartered under the laws of any state other than Washington. See Washington Code 30A.38.005 Out-of-state trust institution: means a trust institution that is not a state trust company under this title. See Washington Code 30B.04.005 Oversight: Committee review of the activities of a Federal agency or program. Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. Person: means an individual, a company, or any other legal entity. See Washington Code 30B.04.005 Person: means an organization or a natural person including, but not limited to, a sole proprietorship. See Washington Code 31.12.005 person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080 Personal property: All property that is not real property. Plaintiff: The person who files the complaint in a civil lawsuit. Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer. Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way. Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents. Presiding officer: means a person who qualifies as a presiding officer under RCW 34. See Washington Code 30B.10.003 primarily: means more than one-half. See Washington Code 31.12.005 Principal shareholder: means a person who owns or has the ability or power to vote, directly, acting through one or more other persons, or otherwise indirectly, ten percent or more of the outstanding shares or participation shares of any class of voting securities of a state trust company or other company. See Washington Code 30B.04.005 Private trust: has the meaning set forth in RCW 30B. See Washington Code 30B.04.005 Private trust company: has the meaning set forth in RCW 30B. See Washington Code 30B.04.005 Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government. Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide. Quorum: The number of legislators that must be present to do business. Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. real property: as used in this title shall include apartments or other portions, however designated, of horizontal property regimes, or a condominium interest in property, as may be created under any laws now in existence or hereafter enacted. See Washington Code 32.04.025 Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant. Respondent: means a person against whom the director has issued a notice and statement of charges pursuant to this chapter. See Washington Code 30B.10.003 Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. Resulting bank: means a bank that has resulted from an interstate combination under this chapter. See Washington Code 30A.38.005 Resulting bank: means the bank resulting from a merger or conversion. See Washington Code 30A.49.010 Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners. Senior operating officer: includes :
Washington Code 31.12.005Service of process: The service of writs or summonses to the appropriate party. Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. Share: means a unit into which a proprietary interest of a trust institution is divided or subdivided by means of class, series, relative rights, or preferences, and includes beneficial interests in a state trust company organized as a corporation or limited liability company. See Washington Code 30B.04.005 Shareholder: means the holder of a share as defined in this section. See Washington Code 30B.04.005 Significantly undercapitalized: means a net worth to total assets ratio of less than four percent. See Washington Code 31.12.005 State: means a state of the United States, the District of Columbia, a territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands. See Washington Code 30B.04.005 State: means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands. See Washington Code 30A.38.005 State bank: means a bank authorized under Title 30A or 32 RCW to engage in trust business or an alien bank chartered or authorized under chapter 30A. See Washington Code 30B.04.005 State trust company: means a corporation or a limited liability company organized or reorganized under this title, including a trust company organized under the laws of Washington state before January 5, 2015. See Washington Code 30B.04.005 Statute: A law passed by a legislature. Statute of limitations: A law that sets the time within which parties must take action to enforce their rights. Subpoena: A command to a witness to appear and give testimony. Subpoena duces tecum: A command to a witness to produce documents. Summons: Another word for subpoena used by the criminal justice system. Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held. Testimony: Evidence presented orally by witnesses during trials or before grand juries. Third-party service provider: includes an independent contractor or other person, which a trust institution has engaged to perform services to facilitate the conduct of its business as a trust institution or affiliate, to perform the following functions:
Washington Code 30B.04.005Third-party service provider: means the same as in RCW 30B. See Washington Code 30B.10.003 Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence. Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC Trust business: means the performance of, or holding out by, a person to the public by advertisement, solicitation, or other means that the person is available to perform one or more of the essential functions of trust business set forth in RCW 30B. See Washington Code 30B.04.005 Trust company: means a state trust company or any other company chartered to act as a fiduciary that is neither a depository institution nor a foreign bank. See Washington Code 30B.04.005 Trust department: means a division, subdivision, department, or group of officers and employees of a state bank authorized by the board of directors of the state bank to exercise trust powers pursuant to authority of the director granted pursuant to RCW 30A. See Washington Code 30B.04.005 Trust deposits: means the client funds held by a state trust company and authorized to be deposited with itself pending investment, distribution, or payment of debts on behalf of the client. See Washington Code 30B.04.005 Trust institution: means a depository institution or foreign bank engaged in trust business, or a trust company. See Washington Code 30B.04.005 Trustee: A person or institution holding and administering property in trust. Trustor: The person who makes or creates a trust. Also known as the grantor or settlor. Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC Unauthorized trust activity: means to engage in trust business in Washington state without authority or exemption under this title. See Washington Code 30B.04.005 Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC Unsafe or unsound condition: means , but is not limited to:
Washington Code 31.12.005Unsafe or unsound practice: means any action, or lack of action, which is contrary to generally accepted standards of prudent operation, the likely consequences of which, if continued, would be abnormal risk of loss or danger to a credit union, its members, or an organization insuring or guaranteeing its shares and deposits. See Washington Code 31.12.005 Usury: Charging an illegally high interest rate on a loan. Source: OCC Venue: The geographical location in which a case is tried. Verdict: The decision of a petit jury or a judge. Voir dire: The process by which judges and lawyers select a petit jury from among those eligible to serve, by questioning them to determine knowledge of the facts of the case and a willingness to decide the case only on the evidence presented in court. "Voir dire" is a phrase meaning "to speak the truth." Washington bank: means a bank whose home state is Washington. See Washington Code 30A.38.005 Washington state bank: means a bank organized under Washington banking law. See Washington Code 30A.38.005