Sec. 37.004. EFFECT OF CLOSING. (a) A day on which a bank or one or more of its operations is closed during its normal banking hours as provided by this chapter is a legal holiday for all purposes with respect to any banking business affected by the closed bank or bank operation.
(b) A bank or a director, officer, or employee of a bank does not incur liability or loss of rights because of a closing authorized by this chapter.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 64, eff. September 1, 2007.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Section 37.002. Emergency Closing of Office or Operation by Bank
Section 37.003. Emergency Closing of Office or Operation by Banking Commissioner
Section 37.004. Effect of Closing
Section 37.005. Limitations on Withdrawals From State Bank
Section 37.006. Financial Moratorium