11.100.130 - Person to whom power or authority to direct or control acts of fiduciary or investments of a trust is conferred deemed a fiduciary -- Liability. - Washington Statutes

Person to whom power or authority to direct or control acts of fiduciary or investments of a trust is conferred deemed a fiduciary — Liability.

Whenever power or authority to direct or control the acts of a fiduciary or the investments of a trust is conferred directly or indirectly upon any person other than the designated trustee of the trust, such person shall be deemed to be a fiduciary and shall be liable to the beneficiaries of the trust and to the designated trustee to the same extent as if he or she were a designated trustee in relation to the exercise or nonexercise of such power or authority.

[1995 c 307 § 6; 1985 c 30 § 77. Prior: 1973 1st ex.s. c 89 § 2. Formerly RCW 30.24.130.]

Notes: Application -- 1995 c 307: See note following RCW 11.100.010.

Short title -- Application -- Purpose -- Severability -- 1985 c 30: See RCW 11.02.900 through 11.02.903.