Washington Code 30B.08.040 – Notice and investigation of application
Current as of: 2023 | Check for updates
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(1) The director shall notify the organizers when the application is complete and accepted for filing and all required fees and deposits have been paid.
Terms Used In Washington Code 30B.08.040
- Director: means the director of the Washington state department of financial institutions. 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
- 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
- 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
(2) At the expense of the organizers, the director shall investigate the application and inquire into the identity and character of each proposed director, manager, officer, managing participant, and principal shareholder or participant.
(3) The financial statement of a proposed officer, director, manager, or managing participant is confidential and not subject to public disclosure under chapter 42.56 RCW.