Washington Code 11.130.540 – Transaction involving conflict of interest
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A transaction involving a conservatorship estate which is affected by a substantial conflict between the conservator’s fiduciary duties and personal interests is voidable unless the transaction is authorized by court order after notice to persons entitled to notice under RCW 11.130.420(6) or a subsequent order. A transaction affected by a substantial conflict includes a sale, encumbrance, or other transaction involving the conservatorship estate entered into by the conservator, an individual with whom the conservator resides, the spouse, domestic partner, descendant, sibling, agent, or attorney of the conservator, or a corporation or other enterprise in which the conservator has a substantial beneficial interest.
[ 2019 c 437 § 425.]
Terms Used In Washington Code 11.130.540
- 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.
- Fiduciary: A trustee, executor, or administrator.