RCW 30B.53.005Definitions.Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.(1) 'Acquiring person' means a person acquiring or seeking to acquire control of a state trust company, directly or indirectly.(2) 'Control,' 'controls,' 'controlled,' and 'controlling' mean:(a) The ownership of or ability or power to vote, directly, acting through one or more other persons, or otherwise indirectly, twenty-five percent or more of the outstanding shares of a class of voting securities of a state trust company or other company;(b) The ability to control the election of a majority of the board of a state trust company or other company;(c) The power to exercise, directly or indirectly, a controlling influence over the management or policies of the state trust company or other company as determined by the director after notice and an opportunity for hearing; or(d) The conditioning of the transfer of twenty-five percent or more of the outstanding shares or participation shares of a class of voting securities of a state trust company on the transfer of twenty-five percent or more of the outstanding shares of a class of voting securities anding shares or participation shares of a class of voting securities of a state trust company on the transfer of twenty-five percent or more of the outstanding shares of a class of voting securities of another state trust company or other company.(3) 'Merger' includes consolidation.(4) 'Merging trust company' means a party to a merger.(5) 'Resulting trust company' means the trust company resulting from a merger.[ 2019 c 389 s 93; 2014 c 37 s 388.]
Washington Legal Code