We are going to close one of our branches (not the whole bank) for one day due to repaving the parking lot. As an FDIC bank, I know we only have to worry about the state. The IL Promissory Note and Bank Holiday Act mentions several hoops that you have to jump through but my reading is that this only applies if you have to close the entire bank for the day.
(c) If an occasion arises when a state bank wishes to remain closed on a particular day, other than a day on which the bank has selected to remain closed on a regular basis as provided in this Section, such state bank may remain closed on such an occasion after first sending to the Commissioner a copy of a resolution adopted by the board of directors authorizing the bank to remain closed on such occasion and notice of the intent to remain closed on such occasion shall be conspicuously posted in the lobby of the main banking office and any branches of such bank for at least 3 weeks in advance of such occasion. Any day which any bank doing business within the State shall select to remain closed pursuant to this Section shall, with respect to such bank, be treated and considered as a Sunday.
My thought is that you just post advance notice in the designated branch to the customers have advance notice. (Listing the nearby branches.)
Another wrinkle - this branch has safe deposit boxes. Is there any special requirements involving these?
Thanks in advance.
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