NY Gen Const L § 24-A (2021)
2021 New York Laws GCN - General Construction Article 2 - Meaning of Terms 24-A - Closing of Banking Organizations on Saturday; Sunday, Public Holiday or Saturday Afternoon Banking Transactions; Emergency Bank Holidays.

§  24-a.  Closing of banking organizations on Saturday; Sunday, public   holiday or  Saturday  afternoon  banking  transactions;  emergency  bank   holidays. 1. Any banking organization lawfully doing business within the   state  of  New  York may be closed on any one or more Saturdays upon the   adoption of a resolution to such effect by a majority vote of the  board   of  directors or the board of trustees thereof or of the partners in the   case of a private banker. Any one or more of such Saturdays shall,  with   respect  to  any such banking organization which shall be closed thereon   in accordance with the provisions  of  this  subdivision,  constitute  a   public  holiday  within  the meaning of such term as used in and for all   purposes of section twenty-five and twenty-five-a of this  chapter  (but   not,  in  the  case  of  negotiable  instruments,  for  the  purposes of   subdivision two of section twenty-five thereof), and shall neither be  a   "full  business  day" nor a banking day within the meaning of such terms   as used in and for all purposes of the uniform commercial code. The term   "banking organization", as used in this section (except where  otherwise   defined  therein), shall mean any banking organization as defined in the   banking law, any branch or agency of a foreign banking corporation,  any   national   bank,   federal   reserve  bank,  federal  savings  and  loan   association, federal savings bank, federal home  loan  bank  or  federal   credit union, and any person or association of persons lawfully carrying   on the business of banking in this state whether incorporated or not. As   used  in this section (except where otherwise defined therein), the term   "officers" shall mean the person or persons designated by the  board  of   directors  or trustees of a banking organization, or the partners in the   case of a private  banker,  to  act  for  the  banking  organization  in   carrying  out  the  provisions  of this section; the term "office" shall   mean any place at which a banking organization transacts business  other   than  its  principal office; and the term "person" shall include natural   persons, corporations, partnerships and associations.2. Nothing in any law of this state shall  in  any  manner  whatsoever   affect  the  validity  of,  or  render  void  or  voidable,  the payment   certification or acceptance of a check or  other  negotiable  instrument   under  the uniform commercial code or any other transaction by a banking   organization in this state, because done or performed on any  Sunday  or   public  holiday,  or  on  any  Saturday  between twelve o'clock noon and   midnight, provided such payment,  certification,  acceptance,  or  other   transaction  would  be valid if done or performed on any business day or   before twelve o'clock noon on such  Saturday;  provided,  further,  that   nothing  in  this  subdivision  shall be construed to compel any banking   organization in this state, which by law or custom is entitled to  close   at twelve o'clock noon on any Saturday, to keep open for the transaction   of  business or to perform any of the acts or transactions aforesaid, on   any Saturday after such hour except at its own option or to  compel  any   banking  organizations  in  this  state to keep open on a public holiday   except at its own option and then only to the extent it elects to do so.3. a. The governor is authorized, by proclamation,  to  designate  and   appoint  one  or  more holidays, or holiday periods, to be known as bank   holidays, to be observed throughout the state, or to be  observed  in  a   portion  or  portions  thereof, as specified in such proclamation, if an   emergency as hereinafter defined, shall, in his  opinion,  require  such   action.b.  Whenever the officers of a banking organization are of the opinion   that an emergency, as hereinafter defined, exists which affects  one  or   more  or  all  the  banking  organization's  offices,  they  shall  have   authority to close one or more or  all  such  offices  even  though  the   governor  has not issued and does not issue a proclamation of emergency,   provided however, that provision  is  made  by  such  officers  for  the    transaction  of  the  business normally transacted at a closed office at   another office or the principal  office  of  the  banking  organization,   until  further  notice.  The  office  or  offices so closed shall remain   closed  until  the officers or, in the case of a banking organization as   defined in the banking law, the superintendent  of  financial  services,   direct  that  it  be opened. A banking organization closing an office or   offices pursuant to this paragraph  shall  give  prompt  notice  to  the   superintendent of financial services of its action.c.  Whenever the officers of a banking organization are of the opinion   that an emergency, as hereinafter  defined,  exists  which  affects  the   banking  organization's  principal  office, they shall have authority to   close such principal office even though the governor has not issued  and   does  not  issue  a  proclamation  of  emergency, provided however, that   provision is made by such officers for the transaction of  the  business   normally  transacted  at such principal office, at another office of the   banking organization, until further notice;  provided  further  however,   that if no other office of the banking organization can be so designated   for the transaction of the business normally transacted at the principal   office,  the  officers  may  direct  that  the principal office shall be   closed only with the prior approval of the superintendent  of  financial   services.  The  superintendent  of  financial  services,  in giving such   approval, may require certification of  such  official  of  the  federal   government  or  of  the  state  of  New  York or a political subdivision   thereof as he deems sufficient to establish  that  an  emergency  exists   which  affects  such  banking organization's principal office. A banking   organization closing such principal office pursuant  to  this  paragraph   shall  give prompt notice to the superintendent of financial services of   its action.d. Whenever the officers of a banking organization are of the  opinion   that  an  emergency,  as  hereinafter  defined,  exists  which adversely   affects the conduct of any business operation or function  conducted  at   the  bank's  principal  office,  they shall have the authority, upon the   prior approval of the  superintendent  of  financial  services,  not  to   conduct  such  operation  or  function  even though the governor has not   issued and  does  not  issue  a  proclamation  of  emergency;  provided,   however,  that  such  officers  may exercise this authority without such   prior approval if they have in good faith attempted, but been unable, to   contact the superintendent of financial services to  request  permission   not to conduct such business operation or function; and provided further   the  principal  office  shall  not be closed in its entirety pursuant to   this paragraph. No  business  operation  or  function  shall  be  closed   pursuant to this paragraph d unless such officers have attempted, but in   good  faith  found  it  infeasible to conduct such business operation or   function at another office. A banking organization closing any  business   operation  or  function pursuant to this paragraph shall promptly notify   the superintendent of financial services  of  its  action  in  a  manner   prescribed by the superintendent.e.  The  discretion  of  the  officers  of any banking organization in   acting pursuant to this subdivision, when exercised in good faith, shall   not be questioned in any court or place.f. No banking organization and no director, officer or employee  of  a   banking  organization  shall  be  liable to any person for any direct or   indirect  loss  suffered  by  such  person  by  reason  of  the  banking   organization's  failure  or  inability  to  make  access  to the banking   organization's premises and facilities available to such  person  or  by   reason of the banking organization's failure to perform, or its delay in   performing,  any  contractual,  statutory  or  other  duty assumed by or   imposed upon the banking organization in any capacity when such failure,    inability or delay is caused by the banking organization, or any  office   or  the  principal  office  thereof,  being closed as authorized by this   section.g.  An  emergency,  within the meaning of this section, shall mean any   condition which  may  interfere  with  the  conduct  of  normal  banking   operations, in the holiday area, or at one or more or all offices or the   principal  office  of  a banking organization or organizations, or which   poses an imminent or existing threat  to  the  safety  and  security  of   persons or property, or both, including floods, wind, rain, hail or snow   storms,  power  failures,  transportation  failures,  earthquake,  fire,   riots, strikes, civil commotion, labor disputes, enemy action or  threat   of  enemy  action,  and  any  similar  or  different condition which may   interfere physically with the conduct of normal  banking  operations  in   the holiday area.h.  During such holiday, holidays and holiday periods, provided for in   paragraphs a through c of this subdivision,  all  banking  organizations   may  close  any  or all of their places of business in the holiday area.   The superintendent of financial services may,  however,  by  special  or   general   regulation,   restriction,  or  order,  provide  that  banking   organizations (as such term is defined in the banking law) and  branches   and agencies of foreign banking corporations in this state shall, to the   extent  and  at  such  of their places of business as may be directed by   him, carry on such of their  normal  and  usual  operations  or  banking   transactions  in  the  holiday  area  during  such  holiday, holidays or   holiday period, as may appear to him to be in the best interests of  the   public. Such holiday, holidays or holiday periods shall, with respect to   such  place  or  places  of  business in the holiday area of any banking   organization which shall  be  closed  thereon  in  accordance  with  the   provisions  of  this subdivision, constitute a public holiday within the   meaning of such term as used in and for all purposes of subdivision  one   of  section  twenty-five and of subdivision one of section twenty-five-a   of this chapter (but not for the purposes of subdivision two of  section   twenty-five or of subdivision two of section twenty-five-a thereof), and   shall  neither  be  "full  business  days"  nor  banking days within the   meaning of such terms as used in and for all  purposes  of  the  uniform   commercial code, to the extent that the performance of obligations under   said  code  are  not  directed to be performed by the special or general   regulations, restrictions or orders of the superintendent  of  financial   services,  and  shall  not be deemed to be public holidays for any other   purpose, or under any other provision of law. If any  banking  operation   or  function  is  closed  pursuant to paragraph d of this subdivision, a   bank holiday shall be  deemed  to  exist,  with  the  same  effects  and   limitations as set forth in the preceding sentence, with respect to such   banking operation or function.i.  A  bank  office  or  principal  office  that  has  been  closed as   authorized by this section may nonetheless  conduct  limited  operations   and  perform  banking  transactions  (i)  for  the  convenience  of  its   customers or (ii) relating to transactions between that bank  and  other   banks  or  persons  which have remained open for business or are outside   the holiday area.j. For purposes of this section, each reference to the  superintendent   of  financial  services  shall  be deemed to include any official of the   department of financial services  to  whom  authority  granted  by  this   section has been delegated.