§11202. Banking Day

Link to law: http://legislature.vermont.gov/statutes/section/08/201/11202
Published: 2015

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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.)
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