2005 Minnesota Statutes - 47.0153 — Powers of officers.

     47.0153 Powers of officers. 


    Subdivision 1.    Emergency closings.  When the officers of a 
 financial 
 institution are of the opinion that an emergency exists, or is 
 impending, which affects, or may affect, a financial 
 institution's offices, they shall have the authority, in the 
 reasonable exercise of their discretion, to determine not to 
 open any of its offices on any business day or, if having 
 opened, to close an office during the continuation of the 
 emergency, even if the commissioner does not issue a 
 proclamation of emergency.  The office closed shall remain 
 closed until the time that the officers determine the emergency 
 has ended, and for the further time reasonably necessary to 
 reopen.  No financial institution office shall remain closed for 
 more than 48 consecutive hours, excluding other legal holidays, 
 without the prior approval of the commissioner. 


    Subd. 2.    Special observance closings.  The officers of a 
 financial institution may close 
 the financial institution or one or more of the financial 
 institution's offices on a day designated, by the President of 
 the United States or the governor as a day of national mourning, 
 rejoicing, or other special observance.  


    HIST: 1971 c 318 s 3; 1994 c 382 s 2