Public-domain · open source
OpenJurist

Cal. Fin. Code § 1092

Bank Extraordinary Situation Closing

Known as the Bank Extraordinary Situation Closing Act

The act spans §§ 1090 to 1096 (7 sections).

Added by Stats. 2011, Ch. 243, Sec. 3

Whenever the commissioner determines that an extraordinary situation exists anywhere in this state the commissioner may, by proclamation, authorize banks located in the affected area or areas to close any or all of their offices. The office or offices so closed shall remain closed until the commissioner proclaims that the extraordinary situation has ended or until such earlier time as the officers of the bank determine that one or more closed offices should reopen and in either event for such further time thereafter as may reasonably be required to reopen.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.