12 U.S.C. § 5008 — Delays in an emergency
submitted 23 years ago by Pub. L. 108-100 to r/title-12-BANKS-AND-BANKING · 62 words · no verdicts yet
This section addresses “Delays in an emergency.” It states the provisions set out below.
A delay by a bank* beyond the time limits prescribed or permitted by this chapter is excused if the delay is caused by interruption of communication or computer facilities, suspension of payments by another bank, war, emergency conditions, failure of equipment, or other circumstances beyond the control of a bank and if the bank uses such diligence as the circumstances require.
A delay by a bank* beyond the time limits prescribed or permitted by this chapter shall be excused if the delay is caused by interruption of communication or computer facilities, suspension of payments by another bank, war, emergency conditions, failure of equipment, or other circumstances beyond the control of a bank and if the bank uses such diligence as the circumstances require.
Source credit: (Pub. L. 108–100, § 9, Oct. 28, 2003, 117 Stat. 1188.)
- 2003Enacted · Pub. L. 108-100 · 117 Stat. 1188
A history note hasn’t been published yet. The record shows enactment by Pub. L. 108-100 on 2003-10-28.
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