17-5819.   Same; proclamations by commissioner; closing and reopening.Whenever the commissioner is of the opinion that an emergency exists, oris impending, in this state or in any part or parts of this state, he may,by proclamation, authorize savings and loan associations located in theaffected area or areas to close their offices. In addition, if thecommissioner is of the opinion that an emergency exists, or is impending,which affects or may affect, a particular association or associations, butnot associations located in the area generally, he may authorize theparticular association or associations to close. The association orassociations so closed shall remain closed until the commissioner proclaimsthat the emergency has ended, or until such earlier time as the officers ofthe association determine that the association theretofore closed becauseof the emergency, should reopen, and, in either event, for such furthertime thereafter as may reasonably be required to reopen as determined bythe commissioner.

      History:   L. 1973, ch. 98, § 2; July 1.