9-518. Same; effect of closing; act in addition to other laws.
9-518
9-518. Same; effect of closing; act in addition to other laws.
Any day on which a bank is closed during all or any part of its normal
banking hours pursuant to the authorization granted under this act shall
be, with respect to such bank, a legal holiday for all purposes with
respect to any banking business of any character. No liability, or loss of
rights of any kind, on the part of any bank, or director, officer, or
employee thereof, shall accrue or result by virtue of any closing
authorized by this act.
The provisions of this act shall be construed and applied as being in
addition to, and not in substitution for or limitation of, any other law of
this state or of the United States, authorizing the closing of a bank or
excusing the delay by a bank in the performance of its duties and
obligations because of emergencies or conditions beyond the bank's control
or otherwise.
History: L. 1971, ch. 35, § 5; July 1.