RCW 11.98A
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Washington Trust Act

Washington's trust administration statute, based on the Uniform Trust Code. Governs trustee duties, beneficiary rights, accounting, modification, and termination of express trusts. Relevant to community associations where reserve funds are held by a corporate trustee or where the HOA serves as trustee for a sub-account benefiting unit owners (rare but encountered in some Washington cooperative housing structures).

Status Active
Source Official text

Reviewed · 11 dependent article updates in 12 months · Washington changes feed

Statutory Text Verified Jun 14, 2026 · LEG_WA_GOV
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Financial
Ref Requirement
(chapter) Some WA HOAs (particularly large condos and CC&R communities with significant reserves) hold reserve funds in a trust account at an institutional bank, with the bank acting as trustee. Those arrangements are governed by the WA Trust Act, which imposes fiduciary duties on the trustee independent of the HOA's own duties.
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This content is educational and informational. It does not constitute legal advice. Consult a licensed attorney in your state for legal guidance specific to your situation.
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