17-5818.   Emergency closing of savings and loan associations;definitions.As used in this act, unless the context otherwise requires: (1)"Commissioner" means the state savings and loan commissioner and any otherperson lawfully exercising the powers of the state savings and loancommissioner.

      (2)   "Officers" means the person or persons designated by the board ofdirectors of a savings and loan association to act for the association incarrying out the provisions of this act or, in the absence of any suchdesignation or of the officer or officers so designated, the president orany other officer currently in charge of the association.

      (3)   "Office" means any place at which a savings and loan associationtransacts its business.

      (4)   "Emergency" means any condition or occurrence which may interferephysically with the conduct of normal business operations at the offices ofa savings and loan association, or which poses an imminent or existingthreat to the safety or security of persons or property, or both. Withoutlimiting the generality of the foregoing, an emergency may arise as aresult of any one or more of the following: Fire; flood; earthquake;hurricane; wind, rain or snow storm; labor strike by savings and loanemployees; power failure; transportation failure; interruption ofcommunication facilities; shortage of fuel, housing, food, transportationor labor; theft, robbery or attempted theft or robbery; actual orthreatened enemy attack; epidemic or other catastrophe; riot, civildisturbance and other acts of lawlessness or violence, actual orthreatened.

      History:   L. 1973, ch. 98, § 1; July 1.