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.
RCW 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.
Applied in 2 court decisions — leading case In Re New England Mut. Life Ins. Co. Litigation (1994)
Most recently applied in Timmons v. New England Mutual Life Insurance (January 1994)
1995 c 307 s 6; 1985 c 30 s 77
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.