2023 Illinois Compiled Statutes › Chapter 205 - FINANCIAL REGULATION › 205 ILCS 630/ - Promissory Note and Bank Holiday Act. (Part 3)

(205 ILCS 630/17) (from Ch. 17, par. 2201)
Sec. 17. Holidays.
(a) The following days shall be legal holidays in the State of
Illinois upon which day a bank may, but is not required to, remain closed:
the first day of January (New Year's Day);
the third Monday in January (observance of Martin Luther King, Jr.'s
birthday);
the twelfth day in February (Abraham Lincoln's birthday);
the third Monday in February (Presidents Day);
the first Monday in March (observance of Casimir Pulaski's birthday);
the Friday preceding Easter Sunday (Good Friday);
the last Monday of May (Memorial Day);
the nineteenth day of June (Juneteenth National Freedom Day);
the fourth day of July (Independence Day);
the first Monday in September (Labor Day);
the second Monday in October (Columbus Day);
the eleventh day of November (Veterans' Day);
the fourth Thursday in November (Thanksgiving Day);
the twenty-fifth day in December (Christmas Day);
the days upon which the general elections for members of the House of
Representatives are held, and any day proclaimed by the Governor of this
State as a legal holiday.  From 12 o'clock noon to 12 o'clock midnight of
each Saturday shall be considered a half holiday.  In addition to such
holidays and half-holidays, a bank may select one day of the week to remain
closed, as provided in subsection (b) of this Section.
(b) Any bank doing business within this State may select any one day of
the week to remain closed on a regular basis upon adoption of a resolution
by the board of directors of such bank designating the day selected and
upon filing and publishing a copy of such resolution as hereinafter
required.  Any such resolution shall be deemed effective for the purpose of
this Section only when a copy thereof, certified by an officer having charge
of the records of such bank, is filed with the Recorder of the county in
which such bank is located and published once each week for 3 successive
weeks in a newspaper of general circulation in such county.  Such
publication shall be accomplished by, and at the expense of, the bank, and
the bank shall submit to the Commissioner of Banks and Real Estate such evidence of the publication as the Commissioner shall deem
appropriate.  Any such selection shall remain in full force and effect until a
copy of the later resolution of the board of directors of such bank, certified
in like manner, terminating or altering any such prior selection shall be filed
and published in the same manner as such prior resolution.
(c) If an occasion arises when a state bank wishes to remain closed on a
particular day, other than a day on which the bank has selected to remain
closed on a regular basis as provided in this Section, such state bank may
remain closed on such an occasion after first sending to the Commissioner a
copy of a resolution adopted by the board of directors authorizing the bank
to remain closed on such occasion and notice of the intent to remain closed
on such occasion shall be conspicuously posted in the lobby of the main
banking office and any branches of such bank for at least 3 weeks in
advance of such occasion.  Any day which any bank doing business within the
State shall select to remain closed pursuant to this Section shall, with
respect to such bank, be treated and considered as a Sunday.
(d) All legal holidays, the half holidays and
any day selected by a bank doing business within the State to remain
closed, shall, for all purposes whatsoever, as
regards the presenting for payment or acceptance, the maturity and
protesting and giving of notice of the dishonor of bills of exchange, bank
checks and promissory notes and other negotiable or commercial paper or
instrument, be treated and considered as a Sunday. When any such holidays, except Juneteenth National Freedom Day,
fall on Sunday, the Monday
next following shall be held and considered such holiday. All notes, bills,
drafts, checks or other evidence of indebtedness, falling due or maturing
on either of such days, shall be deemed as due or maturing upon the day
following, and when 2 or more of these days come together, or immediately
succeeding each other, then such instruments, paper or indebtedness shall
be deemed as due or having matured on the day following the last of such
days.
(e) Any act authorized, required or permitted to be performed at or by or
with respect to any bank doing business within the State on a day which it
has selected to remain closed under this Section may be so performed on the
next succeeding business day and no liability or loss of rights of any kind
shall result from such delay.
(f) Nothing in this Act shall in any manner affect the validity of, or
render void or voidable, the payment, certification, or acceptance of a
check or other negotiable instrument, or any other transaction by a bank in
this State, because done or performed on any Saturday, Sunday, holiday, or
any day selected by a bank to remain closed, or during any time other than
regular banking hours; but no bank in this State, which by law or custom is
entitled to remain open or to close for the whole or any part of any day
selected by it to remain open or to close, is compelled to close, or to
remain open for the transaction of business or to perform any of the acts
or transactions aforesaid except at its own option.
(Source: P.A. 102-14, eff. 1-1-22; 102-334, eff. 8-9-21.)