(a) Any bank or any branch or branches thereof may close on any one business day of each week and shall have this right even though there shall fall in such week a holiday as established in Section 1-3-8. If the superintendent should determine that an emergency should exist, he may authorize any bank or any branch or branches thereof to close on one or more business days.
(b) Any such day upon which such bank or any branch or branches thereof may elect to close shall with respect to such institution be deemed a holiday for all purposes and not a business day. All acts omitted or done by such bank or any branch or branches thereof upon any such day shall have the same consequence and effect as if omitted or done upon the next succeeding business day, and any act authorized, required or permitted to be performed at or with respect to any such bank or any branch or branches thereof on the days so fixed may be performed on the next succeeding business day, and no liability or loss of rights of any kind shall result from such delay to any person or to any bank, or any branch or branches thereof.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 5A - Organization and Operation of Banks.
Section 5-5A-1 - Procedure for Incorporation - Application for Permit.
Section 5-5A-2 - Procedure for Incorporation - Notice of Intention to Incorporate.
Section 5-5A-9 - Procedure for Incorporation - Judicial Review.
Section 5-5A-10 - Permit to Transact Business - Required.
Section 5-5A-11 - Permit to Transact Business - Examination; Issuance and Recordation of Permit.
Section 5-5A-12 - Membership in Federal Deposit Insurance Corporation, Etc.
Section 5-5A-13 - Filing Fee; Other Fees.
Section 5-5A-14 - Capital - Minimum Amount Required for Incorporation of Bank.
Section 5-5A-15 - Capital - Increase or Decrease.
Section 5-5A-16 - Issuance of Capital Notes and Debentures.
Section 5-5A-18 - Powers of Banks Generally.
Section 5-5A-20 - Branch Banks; Commercial Affiliates.
Section 5-5A-21 - Surplus; Restriction on Dividends.
Section 5-5A-22 - Limits of Indebtedness.
Section 5-5A-23 - Investments and Loans With Respect to Housing.
Section 5-5A-28 - Pledge of Assets.
Section 5-5A-29 - Security Not Required When Deposits Insured.
Section 5-5A-31 - Liability for Transactions on Legal Holidays.
Section 5-5A-32 - Closing of Banks, etc., Permitted on One Business Day of Each Week.
Section 5-5A-33 - Bank to Pay Checks Drawn on It at Par.
Section 5-5A-36 - Notice Upon Maturity of Certificate of Deposit Issued for More Than 90 Days.
Section 5-5A-37 - Rights of Minors.
Section 5-5A-40 - Disposition of Deposit in Trust for Another Upon Death of Trustee.
Section 5-5A-42 - Adverse Claims to Deposits.
Section 5-5A-43 - Disclosure of Customer Financial Records.
Section 5-5A-44 - Acquisition of Majority of Voting Shares of a Bank; Procedure.
Section 5-5A-45 - Initiation of Run on Banks, Etc.
Section 5-5A-46 - False, etc., Statements, etc., Affecting Financial Standing of Bank.
Section 5-5A-47 - Liability of Directors or Officers; Enforcement Powers of Superintendent.