(a) For purposes of this article, the following definitions shall apply:
(1) “Officers” means the person or persons designated by the board of directors of a depository bank or credit union to act for the depository bank or credit union in carrying out the provisions of this chapter or, in the absence of any designation or of the officer or officers so designated, the president or any other officer currently in charge of the state bank or credit union or of the office or offices in question.
(2) “Office” means any place at which a depository bank or credit union transacts its business or conducts operations related to its business.
(3) “Emergency” means any condition or occurrence which may interfere physically with the conduct of normal business operations at one or more or all of the offices of a depository bank or credit union, or which poses an imminent or existing threat to the safety or security of persons or property, or both. Without limiting the generality of the foregoing, an emergency may arise as a result of any one or more of the following: fire, flood, earthquake, hurricanes, wind, rain, or snow storms, labor disputes and strikes, power failures, transportation failures, interruption of communication facilities, shortages of fuel, housing, food, transportation or labor, robbery or attempted robbery, actual or threatened enemy attack, epidemics or other catastrophes, riots, civil commotions, and other acts of lawlessness or violence, actual or threatened.
(b) By proclamation, the commissioner may close all of the offices of all depository banks or credit unions on any day or days designated in the proclamation, by proclamation of the president of the United States or the governor of this state, as a day or days of mourning, rejoicing, or other special observance.
(c) Whenever the officers of a depository bank or credit union are of the opinion that an emergency exists, or is impending, which affects, or may affect, one or more or all of a depository bank’s or credit union’s offices, they may, in the reasonable and proper exercise of their discretion, determine not to open any one or more or all of the offices on any business or banking day or, if having opened, to close any one or more or all of the offices during the continuation of the emergency. The office or offices so closed shall remain closed until such time as the officers determine that the emergency has ended and for such further time thereafter as may reasonably be required to reopen; however, in no case shall the office or offices remain closed for more than 48 consecutive hours, excluding other legal holidays, without requesting the approval of the commissioner.
(d) Any day on which a depository bank or credit union, or any one or more of its offices, is closed during all or any part of its normal banking hours under the authorization granted under this chapter shall be, with respect to the depository bank or credit union or, if not all of its offices are closed, then with respect to any office or offices which are closed, a legal holiday for all purposes with respect to any banking business of any character. No liability, or loss of rights of any kind, on the part of any depository bank or credit union, or any of its directors, officers, or employees, shall accrue or result by virtue of any closing authorized by this section.
(e) The provisions of this section shall be construed and applied as being in addition to, and not in substitution for or limitation of, any other law of this state or of the United States, authorizing the closing of a state bank or credit union or excusing the delay by a depository bank or credit union in the performance of its duties and obligations because of emergencies or conditions beyond the depository bank or credit union’s control, or otherwise.