(a) Whenever the Commissioner is notified by any officer of a bank or by any other means becomes aware that an emergency exists, or is impending, he may, by proclamation, authorize all banks in the State of Illinois to close or alter the hours at any or all of their offices, or if only a bank or banks, or offices thereof, in a particular area or areas of the State of Illinois are affected by the emergency or impending emergency, the Commissioner may authorize only the affected bank, banks, or offices thereof, to close. The office or offices so closed may remain closed until the Commissioner declares, by further proclamation, that the emergency or impending emergency has ended, or until an earlier time when the officers of the bank determine that the office or offices so closed should reopen, and, in either event, for the further amount of time reasonably necessary to reopen. The Commissioner during an emergency or while an impending emergency exists, which affects, or may affect, a particular bank or banks, or a particular office or offices thereof, but not banks located in the area generally of the said county or municipality, may authorize the particular bank or banks, or office or offices so affected, to close. The office or offices so closed shall remain closed until the Commissioner is notified by a bank officer of the closed bank that the emergency has ended, or until an earlier time when the officers of the bank determine that the office or offices so closed should reopen, and, in either event, for the further amount of time reasonably necessary to reopen.
     (b) Whenever the Secretary becomes aware that an emergency exists, or is impending, he or she may, by proclamation, waive any requirements to the notices, applications, or reports required to be filed and authorize any bank organized under the laws of this State, of another state, or of the United States, to open and operate offices in this State, notwithstanding any other laws of this State to the contrary. Any office or offices opened in accordance with this subsection may remain open until the Commissioner declares, by further proclamation, that the emergency or impending emergency has ended. The Department of Financial and Professional Regulation may adopt rules to implement this subsection (b).
     (c) When the officers of a bank are of the opinion that an emergency exists, or is impending, which affects or may affect the bank’s offices, they shall have the authority, in the reasonable exercise of their discretion, to determine not to open any of the bank’s offices on any day or, if having opened, to close an office during the continuation of the emergency, even if the Commissioner does not issue a proclamation. The office closed shall remain closed until the time that the officers determine the emergency has ended, and for the further amount of time reasonably necessary to reopen. No bank office shall remain closed for more than 48 consecutive hours, excluding legal holidays and other days on which the bank is permitted to remain closed under the Promissory Note and Bank Holiday Act, without the prior approval of the Commissioner.