§ 24-a. Closing of banking organizations on Saturday; Sunday, public holiday or Saturday afternoon banking transactions; emergency bank holidays. 1. Any banking organization lawfully doing business within the state of New York may be closed on any one or more Saturdays upon the adoption of a resolution to such effect by a majority vote of the board of directors or the board of trustees thereof or of the partners in the case of a private banker. Any one or more of such Saturdays shall, with respect to any such banking organization which shall be closed thereon in accordance with the provisions of this subdivision, constitute a public holiday within the meaning of such term as used in and for all purposes of section twenty-five and twenty-five-a of this chapter (but not, in the case of negotiable instruments, for the purposes of subdivision two of section twenty-five thereof), and shall neither be a "full business day" nor a banking day within the meaning of such terms as used in and for all purposes of the uniform commercial code. The term "banking organization", as used in this section (except where otherwise defined therein), shall mean any banking organization as defined in the banking law, any branch or agency of a foreign banking corporation, any national bank, federal reserve bank, federal savings and loan association, federal savings bank, federal home loan bank or federal credit union, and any person or association of persons lawfully carrying on the business of banking in this state whether incorporated or not. As used in this section (except where otherwise defined therein), the term "officers" shall mean the person or persons designated by the board of directors or trustees of a banking organization, or the partners in the case of a private banker, to act for the banking organization in carrying out the provisions of this section; the term "office" shall mean any place at which a banking organization transacts business other than its principal office; and the term "person" shall include natural persons, corporations, partnerships and associations.

2. Nothing in any law of this state shall in any manner whatsoever affect the validity of, or render void or voidable, the payment certification or acceptance of a check or other negotiable instrument under the uniform commercial code or any other transaction by a banking organization in this state, because done or performed on any Sunday or public holiday, or on any Saturday between twelve o'clock noon and midnight, provided such payment, certification, acceptance, or other transaction would be valid if done or performed on any business day or before twelve o'clock noon on such Saturday; provided, further, that nothing in this subdivision shall be construed to compel any banking organization in this state, which by law or custom is entitled to close at twelve o'clock noon on any Saturday, to keep open for the transaction of business or to perform any of the acts or transactions aforesaid, on any Saturday after such hour except at its own option or to compel any banking organizations in this state to keep open on a public holiday except at its own option and then only to the extent it elects to do so.

3. a. The governor is authorized, by proclamation, to designate and appoint one or more holidays, or holiday periods, to be known as bank holidays, to be observed throughout the state, or to be observed in a portion or portions thereof, as specified in such proclamation, if an emergency as hereinafter defined, shall, in his opinion, require such action.

b. Whenever the officers of a banking organization are of the opinion that an emergency, as hereinafter defined, exists which affects one or more or all the banking organization's offices, they shall have authority to close one or more or all such offices even though the governor has not issued and does not issue a proclamation of emergency, provided however, that provision is made by such officers for the transaction of the business normally transacted at a closed office at another office or the principal office of the banking organization, until further notice. The office or offices so closed shall remain closed until the officers or, in the case of a banking organization as defined in the banking law, the superintendent of financial services, direct that it be opened. A banking organization closing an office or offices pursuant to this paragraph shall give prompt notice to the superintendent of financial services of its action.

c. Whenever the officers of a banking organization are of the opinion that an emergency, as hereinafter defined, exists which affects the banking organization's principal office, they shall have authority to close such principal office even though the governor has not issued and does not issue a proclamation of emergency, provided however, that provision is made by such officers for the transaction of the business normally transacted at such principal office, at another office of the banking organization, until further notice; provided further however, that if no other office of the banking organization can be so designated for the transaction of the business normally transacted at the principal office, the officers may direct that the principal office shall be closed only with the prior approval of the superintendent of financial services. The superintendent of financial services, in giving such approval, may require certification of such official of the federal government or of the state of New York or a political subdivision thereof as he deems sufficient to establish that an emergency exists which affects such banking organization's principal office. A banking organization closing such principal office pursuant to this paragraph shall give prompt notice to the superintendent of financial services of its action.

d. Whenever the officers of a banking organization are of the opinion that an emergency, as hereinafter defined, exists which adversely affects the conduct of any business operation or function conducted at the bank's principal office, they shall have the authority, upon the prior approval of the superintendent of financial services, not to conduct such operation or function even though the governor has not issued and does not issue a proclamation of emergency; provided, however, that such officers may exercise this authority without such prior approval if they have in good faith attempted, but been unable, to contact the superintendent of financial services to request permission not to conduct such business operation or function; and provided further the principal office shall not be closed in its entirety pursuant to this paragraph. No business operation or function shall be closed pursuant to this paragraph d unless such officers have attempted, but in good faith found it infeasible to conduct such business operation or function at another office. A banking organization closing any business operation or function pursuant to this paragraph shall promptly notify the superintendent of financial services of its action in a manner prescribed by the superintendent.

e. The discretion of the officers of any banking organization in acting pursuant to this subdivision, when exercised in good faith, shall not be questioned in any court or place.

f. No banking organization and no director, officer or employee of a banking organization shall be liable to any person for any direct or indirect loss suffered by such person by reason of the banking organization's failure or inability to make access to the banking organization's premises and facilities available to such person or by reason of the banking organization's failure to perform, or its delay in performing, any contractual, statutory or other duty assumed by or imposed upon the banking organization in any capacity when such failure, inability or delay is caused by the banking organization, or any office or the principal office thereof, being closed as authorized by this section.

g. An emergency, within the meaning of this section, shall mean any condition which may interfere with the conduct of normal banking operations, in the holiday area, or at one or more or all offices or the principal office of a banking organization or organizations, or which poses an imminent or existing threat to the safety and security of persons or property, or both, including floods, wind, rain, hail or snow storms, power failures, transportation failures, earthquake, fire, riots, strikes, civil commotion, labor disputes, enemy action or threat of enemy action, and any similar or different condition which may interfere physically with the conduct of normal banking operations in the holiday area.

h. During such holiday, holidays and holiday periods, provided for in paragraphs a through c of this subdivision, all banking organizations may close any or all of their places of business in the holiday area. The superintendent of financial services may, however, by special or general regulation, restriction, or order, provide that banking organizations (as such term is defined in the banking law) and branches and agencies of foreign banking corporations in this state shall, to the extent and at such of their places of business as may be directed by him, carry on such of their normal and usual operations or banking transactions in the holiday area during such holiday, holidays or holiday period, as may appear to him to be in the best interests of the public. Such holiday, holidays or holiday periods shall, with respect to such place or places of business in the holiday area of any banking organization which shall be closed thereon in accordance with the provisions of this subdivision, constitute a public holiday within the meaning of such term as used in and for all purposes of subdivision one of section twenty-five and of subdivision one of section twenty-five-a of this chapter (but not for the purposes of subdivision two of section twenty-five or of subdivision two of section twenty-five-a thereof), and shall neither be "full business days" nor banking days within the meaning of such terms as used in and for all purposes of the uniform commercial code, to the extent that the performance of obligations under said code are not directed to be performed by the special or general regulations, restrictions or orders of the superintendent of financial services, and shall not be deemed to be public holidays for any other purpose, or under any other provision of law. If any banking operation or function is closed pursuant to paragraph d of this subdivision, a bank holiday shall be deemed to exist, with the same effects and limitations as set forth in the preceding sentence, with respect to such banking operation or function.

i. A bank office or principal office that has been closed as authorized by this section may nonetheless conduct limited operations and perform banking transactions (i) for the convenience of its customers or (ii) relating to transactions between that bank and other banks or persons which have remained open for business or are outside the holiday area.

j. For purposes of this section, each reference to the superintendent of financial services shall be deemed to include any official of the department of financial services to whom authority granted by this section has been delegated.