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The Vermont Statutes Online
Title
08
:
Banking and Insurance
Chapter
201
:
SUPERVISION; DEFINITIONS
Subchapter
002
:
BUSINESS DAYS AND EMERGENCIES
§
11202. Banking day
(a) Each Vermont
and state depository institution shall be open not less than five banking days
each week, except for the days enumerated in subsection 11201(a) of this title,
or except as otherwise provided in this chapter.
(b) In addition
to the hours of each banking day established by an institution under subsection
(a) of this section, a Vermont or state depository institution may, at its
discretion, establish days and hours for its offices, including opening offices
for business on days that are not defined as business days in section 11201 of
this title. The financial institution's governing body is responsible for
determining the scope of operations of each branch, including the services to
be provided and the days and hours of operation.
(c) A Vermont or
state depository institution shall post the days and hours of operation at or
near the public entrances to its banking offices and shall provide customers
with reasonable advance notice of reduction in services or hours of operation.
(d) Any act
authorized, required, or permitted to be performed at, by, or with respect to
any Vermont or state depository institution on a day not defined as a business
day or on a day the institution is closed pursuant to section 11204 or 11205 of
this title, may be performed on the next succeeding business day and liability
or loss of rights of any kind to such financial institution shall not result
from this delay. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.)