Section 21.2. Unscheduled closing

(a) In the event of an emergency resulting from civil strife, either actual or threatened, in the vicinity of one or more of the offices of the institution, or from fire, abnormal weather conditions, power failure, or impairment of bank facilities, any of which substantially interferes with the conduct of normal business operations at one or more offices of the institution, such offices shall be permitted to close until conditions return to normal.

(b) If it is deemed necessary by an institution to close its offices because of an emergency as set forth in subsection (a) of this section, it shall not be required to obtain express approval from the Department to effect such a closing. An institution shall, however, give written notice to its primary supervisory authority within five business days after the commencement of business following such closing of one or more of its offices for an emergency as authorized by subsection (a) of this section. Such written notice shall mention the office or offices closed, the duration of the closing and the nature of the emergency.

(c) When used in this section, the term ‘‘institution’’ includes a national bank.

The provisions of this § 21.2 adopted by Secretary’s Letter ‘‘J,’’ dated July 31, 1967, amended December 8, 1978, 8 Pa.B. 3493. Immediately preceding text appears at serial page (33893).

Notation

Authority

The provisions of this § 21.2 issued under section 202 of the Department of Banking and Securities Code (71 P. S. § 733-202).