Whenever the officers of a banking organization are of the opinion that an emergency exists which affects 1 or more of the organization’s offices, they shall have the authority to close 1 or more or all such offices even though the Governor has not issued and does not issue a proclamation of emergency, and they may, but need not, provide that the business normally transacted at a closed office will be transacted at another office designated by the bank until further notice. The discretion of the officers in acting pursuant to this section, when exercised in good faith, shall not be questioned in any court or place or by any State agency.

65 Del. Laws, c. 298, § ?1;

Terms Used In Delaware Code Title 5 Sec. 1304

  • Emergency: means any condition which interferes with the conduct of normal business operations at 1 or more of a banking organization's offices, or which poses an imminent or existing threat to the safety and security of persons or property, or both. See Delaware Code Title 5 Sec. 1301
  • Office: means any place at which a banking organization transacts business or conducts operations related to the transaction of business, and shall specifically include, without limiting the generality of the foregoing, automatic teller machines. See Delaware Code Title 5 Sec. 1301
  • Officers: means those persons designated by the banking organization's board of directors or trustees to act for the banking organization. See Delaware Code Title 5 Sec. 1301
  • State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
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