17:12B-46.8 - Effect of emergency closing - New-jersey Statutes

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Statutes > New-jersey > Title-17 > Section-17-12b > 17-12b-46-8

17:12B-46.8. Effect of emergency closing
No association shall be liable to any person for any direct or indirect loss suffered by such person by reason of the association's closing one or more or all of its offices pursuant to the provisions of this act. Where an obligation becomes payable to an association through an office closed as herein provided, or where an association is required to pay an obligation through an office which has been closed as herein provided, such obligation shall be deemed to be payable to or by the association on the day upon which the association reopens such office. An association may, however, designate another of its offices to transact business normally transacted at a closed office until such time as the closed office is reopened.

L.1968, c. 150, s. 8, eff. July 12, 1968.

State Codes and Statutes

Statutes > New-jersey > Title-17 > Section-17-12b > 17-12b-46-8

17:12B-46.8. Effect of emergency closing
No association shall be liable to any person for any direct or indirect loss suffered by such person by reason of the association's closing one or more or all of its offices pursuant to the provisions of this act. Where an obligation becomes payable to an association through an office closed as herein provided, or where an association is required to pay an obligation through an office which has been closed as herein provided, such obligation shall be deemed to be payable to or by the association on the day upon which the association reopens such office. An association may, however, designate another of its offices to transact business normally transacted at a closed office until such time as the closed office is reopened.

L.1968, c. 150, s. 8, eff. July 12, 1968.

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State Codes and Statutes

Statutes > New-jersey > Title-17 > Section-17-12b > 17-12b-46-8

17:12B-46.8. Effect of emergency closing
No association shall be liable to any person for any direct or indirect loss suffered by such person by reason of the association's closing one or more or all of its offices pursuant to the provisions of this act. Where an obligation becomes payable to an association through an office closed as herein provided, or where an association is required to pay an obligation through an office which has been closed as herein provided, such obligation shall be deemed to be payable to or by the association on the day upon which the association reopens such office. An association may, however, designate another of its offices to transact business normally transacted at a closed office until such time as the closed office is reopened.

L.1968, c. 150, s. 8, eff. July 12, 1968.