Terms Used In Washington Code > Chapter 30B.44A - State trust companies -- Voluntary dissolution and liquidation

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bank: has the meaning set forth in 12 U. See Washington Code 30B.04.005
• 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}
• Company: includes a bank, trust company, corporation, limited liability company, partnership, association, business trust, or another trust. See Washington Code 30B.04.005
• 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.
• Department: means the Washington state department of financial institutions. See Washington Code 30B.04.005
• Director: means the director of the Washington state department of financial institutions. See Washington Code 30B.04.005
• 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}
• 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.
• Fiduciary: A trustee, executor, or administrator.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Manager: means a person elected to the board of a limited liability trust company. See Washington Code 30B.04.005
• Oath: A promise to tell the truth.
• Shareholder: means the holder of a share as defined in this section. See Washington Code 30B.04.005
• 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 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
• 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 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.