§ 5-707. Emergencies proclaimed by Governor
West's Annotated Code of MarylandFinancial Institutions
MD Code, Financial Institutions, § 5-707
§ 5-707. Emergencies proclaimed by Governor
(a) In this section, “emergency” has the meaning stated in § 14-307 of the Public Safety Article.
(b)(1) If the Governor proclaims that an emergency exists in a political subdivision and designates days for the general cessation of business in the subdivision, each banking office that is located within the subdivision shall be closed on those days.
(c)(1) If an emergency exists and affects a banking institution and if it is not practical to obtain a proclamation from the Governor before closing the affected institution, the chairman of its board of directors or its president:
Credits
Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1986, c. 5, § 4; Acts 1987, c. 11, § 2; Acts 2003, c. 17, § 1, eff. Oct. 1, 2003.
Formerly Art. 13, § 9.
MD Code, Financial Institutions, § 5-707, MD FIN INST § 5-707
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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