9-514.   Suspension of business by banks and trust companies inemergency; definitions.As used in this act unless the context otherwise requires: (1)"Commissioner" means the state bank commissioner and any other personlawfully exercising the powers of the state bank commissioner;

      (2)   "Bank" includes banks and trust companies incorporated under thelaws of this state, and to the extent that the provisions hereof are notinconsistent with and do not infringe upon paramount federal law, alsoincludes national banks;

      (3)   "Officers" means the person or persons designated by the board ofdirectors of a bank to act for the bank in carrying out the provisions ofthis act or, in the absence of any such designation or of the officer orofficers so designated, the president or any other officer currently incharge of the bank;

      (4)   "Office" means any place at which a bank transacts its business;

      (5)   "Emergency" means any condition or occurrence which may interferephysically with the conduct of normal business operations at the offices ofa bank, or which poses an imminent or existing threat to the safety orsecurity of persons or property, or both. Without limiting the generalityof the foregoing, an emergency may arise as a result of any one or more ofthe following: Fire; flood; earthquake; hurricane; wind, rain or snowstorm; labor strike by bank employees; power failure; transportationfailure; interruption of communication facilities; shortage of fuel,housing, food, transportation or labor; robbery or attempted robbery;actual or threatened enemy attack; epidemic or other catastrophe; riot,civil commotion, and other acts of lawlessness or violence, actual orthreatened.

      History:   L. 1971, ch. 35, § 1; July 1.