17-5820. Same; continuity of management and business in national emergency; liability.
17-5820
17-5820. Same; continuity of management and business in national
emergency; liability.
The commissioner shall, by regulation, provide for continuity of the
management and business of an association in the event of a national
emergency declared by the president of the United States or the person
performing his functions, or a nuclear, atomic or other disaster making it
impossible or impracticable for an association to conduct its business in
strict accord with applicable provisions of law, its bylaws or its charter.
The association and its directors, officers and employees shall not be
liable to any person by reason of the failure to perform or delay in
performing any contractual, statutory or other duty when the failure or
delay is caused by any such emergency.
History: L. 1973, ch. 98, § 3; July 1.