9-515.   Same; powers of commissioner.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 orshe may, by proclamation, authorize banks located in the affected area orareas to close their offices. In addition, if the commissioner is of theopinion that an emergency exists, or is impending, which affects, or mayaffect, a particular bank or banks, but not banks located in the areagenerally, he or she may authorize the particular bank or banks to close.The bank or banks so closed shall remain closed until the commissionerproclaims that the emergency has ended, or until such earlier time as theofficers of the bank determine that the bank theretofore closed because ofthe emergency, should reopen, and, in either event, for such further timethereafter as may reasonably be required to reopen as determined by thecommissioner.

      History:   L. 1971, ch. 35, § 2; July 1.