§ 32-1-563 — Powers Of Officers

32-1-563 . Powers of officers. (1) When the officers of a bank are of the opinion that an emergency exists or is impending that affects or may affect any of a bank's offices, they may, in the reasonable and proper exercise of their discretion, determine to not open any of those offices on any banking day or, if having opened, to close any of those offices during the continuation of the emergency, even if the department has not issued and does not issue a proclamation of emergency. An office closed as such must remain closed until the officers determine that the emergency has ended and for a further time thereafter as may reasonably be required to reopen.
(2) The officers of a bank may close any of the bank's offices on any day:
(a) designated by proclamation of the president of the United States or the governor of this state as a day of mourning, rejoicing, or other special observance;
(b) that the federal reserve bank of Minneapolis is not open for business; or
(c) with the permission of the department to commemorate or memorialize a special day, event, or individual.

Legislative History

En. Sec. 3, Ch. 32, L. 1971; amd. Sec. 40, Ch. 431, L. 1975; R.C.M. 1947, 5-1060; amd. Sec. 2, Ch. 264, L. 1979; amd. Sec. 26, Ch. 23, L. 2023.