§ 11.98.045. Criteria for transfer of trust assets or administration
(1) A trustee may transfer trust assets to a trustee in another jurisdiction or may transfer the place of administration of a trust to another jurisdiction if the trust instrument so provides or in accordance with RCW 11.98.051 or 11.98.055.
(2) Transfer under this section is permitted only if:
(a) The transfer would facilitate the economic and convenient administration of the trust;
(b) The transfer would not materially impair the interests of the beneficiaries or others interested in the trust;
(c) The transfer does not violate the terms of the trust; and
(d) The new trustee is qualified and able to administer the trust or such assets on the terms set forth in the trust.
(3) Acceptance of such transfer by a foreign corporate trustee or trust company under this section, RCW 11.98.051, or 11.98.055 shall not be construed to be doing a "trust business" as described in RCW 30.08.150(9).
[1985 c 30 § 45. Prior: 1984 c 149 § 74.]
Notes:
Short title -- Application -- Purpose -- Severability -- 1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability -- Effective dates -- 1984 c 149: See notes following RCW 11.02.005.
Sections: Previous 11.98.009 11.98.016 11.98.019 11.98.029 11.98.039 11.98.041 11.98.045 11.98.051 11.98.055 11.98.060 11.98.065 11.98.070 11.98.080 11.98.090 11.98.100 Next
Last modified: April 7, 2009