A bank that operates physical facilities in any area that is experiencing an epidemic or other emergency may adjust the bank’s operations in any manner that is reasonable to protect the bank’s customers, employees, assets, or business. Under this section a bank may temporarily close or relocate offices, employees, or operations; restrict access to offices or services; and change the manner in which the bank provides banking services. A bank shall notify the commissioner of any actions the bank takes under the authority of this section. The bank shall give the commissioner notice promptly and in any case within three business days of the bank’s decision to adjust the bank’s operations. The notice must describe the bank’s actions and the expected duration of the bank’s adjusted operations. Unless extended by the commissioner, a bank’s authority to change the bank’s operations under this section may not exceed sixty days.

Terms Used In North Dakota Code 6-03-15.2

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bank: means any national bank, national banking association, corporation, state bank, state banking association, or savings bank, whether organized under the laws of this state or of the United States, engaged in the business of banking. See North Dakota Code 6-01-02
  • Banking: means the business of receiving deposits, making loans, discounting commercial paper, issuing drafts, traveler's checks, and similar instruments, handling and making collections, cashing checks and drafts, and buying and selling exchange. See North Dakota Code 6-01-02
  • Commissioner: means the commissioner of financial institutions. See North Dakota Code 6-01-02
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