Document Citation: 10 Pa. Code § 21.2

Header:
PENNSYLVANIA ADMINISTRATIVE CODE
Commonwealth of Pennsylvania
Pennsylvania Code
TITLE 10. BANKS AND BANKING
PART II. BUREAU OF BANKS
CHAPTER 21. GENERAL PROVISIONS FOR ALL STATE-CHARTERED BANKING INSTITUTIONS
PRELIMINARY PROVISIONS

Date:
08/31/2009

Document:
§ 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.