(1) If a trust is a Washington trust under RCW 11.98.005, a trustee may transfer the situs of the trust to a jurisdiction other than Washington 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 qualified beneficiaries or others interested in the trust;
(c) The transfer does not violate the terms of the trust;
(d) The new trustee is qualified and able to administer the trust or such assets on the terms set forth in the trust; and
(e) The trust meets at least one condition for situs listed in RCW 11.98.005(1) with respect to the new jurisdiction.
(3) Acceptance of such transfer by a foreign corporate trustee or trust company under this section or RCW 11.98.051 or 11.98.055 may not be construed to be doing a "trust business" as described in *RCW 30.08.150(9).