New York Laws
Article 2 - Meaning of Terms
25 - Public Holiday, Saturday or Sunday in Contractual Obligations; Extension of Time Where Performance of Act Authorized or Required by Contract Is Due On

§ 25. Public holiday, Saturday or Sunday in contractual obligations;
extension of time where performance of act authorized or required by
contract is due on Saturday, Sunday or public holiday. 1. Where a
contract by its terms authorizes or requires the payment of money or the
performance of a condition on a Saturday, Sunday or a public holiday, or
authorizes or requires the payment of money or the performance of a
condition within or before or after a period of time computed from a
certain day, and such period of time ends on a Saturday, Sunday or a
public holiday, unless the contract expressly or impliedly indicates a
different intent, such payment may be made or condition performed on the
next succeeding business day, and if the period ends at a specified
hour, such payment may be made or condition performed, at or before the
same hour of such next succeeding business day, with the same force and
effect as if made or performed in accordance with the terms of the
contract.

2. Where time is extended by virtue of the provisions of this section,
such extended time shall not be included in the computation of interest
unless the contract so provides, except that when the period is
specified as a number of months, such extended time shall be included in
the computation of interest unless the contract otherwise provides.

3. Notwithstanding any other provision of law, all time deposits and
certificates of deposit of banking organizations that mature on a
Saturday, Sunday or bank holiday shall continue to accrue interest at
the same rate fixed for the term of the deposit or certificate until the
first banking day next succeeding the date of maturity, at which the
principal and all accrued interest may be withdrawn, unless sooner
withdrawn by the depositor.

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