ORS 708A.650
Banking days

  • holidays

(1)

As used in this section:

(a)

“Bank” means any banking institution, out-of-state state bank, out-of-state federal bank, national bank or extranational institution that engages in banking business in this state.

(b)

“Banking day” means any day that is not an optional bank holiday.

(c)

“Emergency” means any condition or occurrence that may interfere with conducting normal business operations at one or more of a bank’s offices, or that poses an imminent or existing threat to the safety or security of persons or property.

(d)

“Open for conducting banking business” means the office or offices of a bank are open to the public for carrying on substantially all business functions of the bank.

(e)

“Optional bank holiday” means:

(A)

Each Saturday and Sunday.

(B)

New Year’s Day on January 1.

(C)

Martin Luther King, Jr.’s birthday on the third Monday in January.

(D)

Presidents Day on the third Monday in February.

(E)

Memorial Day on the last Monday in May.

(F)

Independence Day on July 4.

(G)

Labor Day on the first Monday in September.

(H)

Columbus Day on the second Monday in October.

(I)

Veterans Day on November 11.

(J)

Thanksgiving Day on the fourth Thursday in November.

(K)

Christmas Day on December 25.

(2)

A bank may observe an optional bank holiday, other than a Saturday, that falls on a Saturday on the Saturday or on the preceding Friday. A bank may observe an optional bank holiday, other than a Sunday, that falls on a Sunday on the Sunday or on the succeeding Monday.

(3)

Except as otherwise provided in this section, a bank shall be open for conducting banking business on each banking day.

(4)

Any bank may remain closed on any optional bank holiday with respect to all or any of the bank’s banking and other functions.

(5)

Subject to any applicable federal law or regulation, a bank may close an office for any part or all of a banking day if the times or days which the office is open are posted on the premises of the office.

(6)

If the Director of the Department of Consumer and Business Services determines that an emergency exists, the director may authorize a bank to close the bank’s principal office or branch that the emergency affects. The office or branch may remain closed until the director determines that the emergency has ended and for such further time thereafter as the bank may reasonably require to prepare the office or branch to reopen.

(7)

If the officers of a bank determine that an emergency exists that affects the principal office or a branch of the bank, the officers may close the office or branch without the director’s approval for a period not to exceed 48 hours, excluding holidays, during the continuation of the emergency. A bank that closes an office or branch under this subsection shall give prompt notice of the bank’s action to the director, or in the case of a national bank, to the Comptroller of the Currency.

(8)

The principal officers of a bank may close the principal office or any branch of the bank on any day designated, by proclamation of the President of the United States or the Governor of this state, as a day of mourning, rejoicing, or other special observance.

(9)

If an obligation that is payable at, by or through a bank falls due on a day on which the bank remains closed under this section, the obligation is due and payable on the next banking day on which the bank is open. Any act authorized, required or permitted to be performed at, by or with respect to any bank on a day on which the bank remains closed may be performed on the next banking day on which the bank is open, without liability or a loss of rights of any kind as a result of the closing. [1997 c.631 §1c; 1999 c.59 §218; 2015 c.244 §73]

Source: Section 708A.650 — Banking days; holidays, https://www.­oregonlegislature.­gov/bills_laws/ors/ors708A.­html.

708A.005
Powers of institutions
708A.010
Investments and activities of Oregon commercial banks
708A.115
Investment in government obligations
708A.120
Investment in stock of other entity
708A.125
Stock in corporations acquired to strengthen capital or eliminate undesirable assets
708A.130
Definition for ORS 708A.135 to 708A.145
708A.135
Investment in bank service corporation
708A.140
Discrimination by bank service corporation prohibited against nonstockholding depository institution
708A.145
Authorized services of bank service corporations
708A.150
Community development corporations
708A.155
Investment in foreign banks
708A.160
Corporation or limited liability company created to establish ATMs
708A.165
Membership in Federal Reserve System
708A.170
Securities powers
708A.175
Right to purchase, hold and dispose of real and personal property
708A.180
Acquisition of personal property for leasing purposes
708A.185
Purchase of real estate contracts
708A.190
Acceptance of drafts and bills of exchange
708A.195
Disposition of real and personal property
708A.210
Challenge to validity of institution action
708A.250
Lending money
708A.255
Interest rates on loans or uses of money
708A.260
Accepting own stock as collateral
708A.265
Accepting stock of other institutions as collateral
708A.270
Real estate loans
708A.275
Establishment of loan production office
708A.290
“Capital” defined for ORS 708A.290 to 708A.375
708A.295
Limitations on amount of obligations to Oregon commercial bank
708A.300
Obligations secured by readily marketable collateral
708A.305
Obligations of other financial institutions
708A.310
Obligations of indorser of discounted commercial paper
708A.315
Noncommercial short-term notes
708A.320
Obligations secured by shipping documents
708A.325
Installment consumer paper
708A.330
Bankers’ acceptances of other financial institutions
708A.335
Obligations secured by documents covering readily marketable staples
708A.340
Obligations secured by documents covering livestock
708A.345
Obligations secured by government obligations or shares of mutual fund or unit trust
708A.350
Obligations secured by government bonds
708A.355
Insured and guaranteed obligations
708A.360
Obligations secured by deposits
708A.365
Obligations secured by life insurance policy values
708A.370
Obligations secured by first lien on real estate
708A.375
Obligations of guarantors
708A.400
Deposit accounts
708A.405
Deposits
708A.410
Savings accounts
708A.415
Securing deposits by surety bond, letter of credit or insurance
708A.420
Notice to depositor upon change in terms, charges, withdrawal conditions or decrease in interest rate
708A.425
Deposit made in name of minor
708A.430
Disposition of deposit on death of depositor
708A.435
Adverse claim to deposit
708A.440
Checks drawn by agents presumed to be in authorized manner
708A.445
Checks of intoxicated, drugged or financially exploited persons
708A.450
Certified checks
708A.455
Definitions for ORS 708A.455 to 708A.515
708A.460
Application of ORS 708A.465 to 708A.475
708A.465
Ownership of multiple-party accounts
708A.470
Multiple-party accounts
708A.475
Rights of survivorship based on form of account
708A.480
Transfer of moneys upon death of depositor or trustee is not testamentary disposition
708A.485
Payment of deposit in multiple-party account to one or more parties
708A.488
Withdrawal or payment conditioned on advance notice
708A.490
Joint account
708A.495
P.O.D. account
708A.500
Trust account
708A.505
Discharge of institution from liability for payments made
708A.510
Right of institution to setoff
708A.515
Designation of agent for account
708A.535
Granting security interests in institution assets
708A.555
Generally accepted accounting principles
708A.560
Real and personal property used in institution’s business
708A.565
Certain stock
708A.570
Community development corporations
708A.575
Market-making corporations
708A.580
Capital-strengthening corporations
708A.585
Claims and judgments as assets
708A.590
Charging off real estate assets
708A.595
Charging off personal property assets
708A.600
Charging off losses
708A.605
Separate accounts for foreign branches
708A.630
Negligent, excessive, dishonest or unlawful loans
708A.635
Written policies regarding reporting to and obtaining approval of board
708A.640
Receiving illegal compensation
708A.645
Illegal guaranty or indorsement
708A.650
Banking days
708A.655
Procedures for opening safe deposit box after death of person who was sole lessee or last surviving lessee of box
708A.660
Savings promotion raffles
708A.670
Definitions for ORS 708A.670 and 708A.675
708A.675
Authority of financial institutions in cases of suspected financial exploitation
708A.680
Contractual rights not restricted
708A.990
Civil penalties
708A.995
Criminal penalties
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