093_HB3180
LRB093 10058 JLS 10309 b
1 AN ACT concerning bank holidays.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Promissory Note and Bank Holiday Act is
5 amended by changing Section 17 as follows:
6 (205 ILCS 630/17) (from Ch. 17, par. 2201)
7 Sec. 17. Holidays.
8 (a) The following days are shall be legal holidays in
9 the State of Illinois upon which day a bank may, but is not
10 required to, remain closed:
11 the first day of January (New Year's Day);
12 the third Monday in January (observance of Martin Luther
13 King, Jr.'s birthday);
14 the twelfth day in February (Abraham Lincoln's birthday);
15 the third Monday in February (Presidents Day);
16 the first Monday in March (observance of Casimir
17 Pulaski's birthday);
18 the Friday preceding Easter Sunday (Good Friday);
19 the last Monday of May (Memorial Day);
20 the fourth day of July (Independence Day);
21 the first Monday in September (Labor Day);
22 the second Monday in October (Columbus Day);
23 the eleventh day of November (Veterans' Day);
24 the fourth Thursday in November (Thanksgiving Day);
25 the twenty-fifth day in December (Christmas Day);
26 the days upon which the general elections for members of
27 the House of Representatives are held, and any day proclaimed
28 by the Governor of this State as a legal holiday. From 12
29 o'clock noon to 12 o'clock midnight of each Saturday shall be
30 considered a half holiday. In addition to such holidays and
31 half-holidays, a bank may select one day of the week to
-2- LRB093 10058 JLS 10309 b
1 remain closed, as provided in subsection (b) of this Section.
2 (b) Any bank doing business within this State may select
3 any one day of the week to remain closed on a regular basis
4 upon adoption of a resolution by the board of directors of
5 such bank designating the day selected and upon filing and
6 publishing a copy of such resolution as hereinafter required.
7 Any such resolution shall be deemed effective for the purpose
8 of this Section only when a copy thereof, certified by an
9 officer having charge of the records of such bank, is filed
10 with the Recorder of the county in which such bank is located
11 and published once each week for 3 successive weeks in a
12 newspaper of general circulation in such county. Such
13 publication shall be accomplished by, and at the expense of,
14 the bank, and the bank shall submit to the Commissioner of
15 Banks and Real Estate such evidence of the publication as the
16 Commissioner shall deem appropriate. Any such selection
17 shall remain in full force and effect until a copy of the
18 later resolution of the board of directors of such bank,
19 certified in like manner, terminating or altering any such
20 prior selection shall be filed and published in the same
21 manner as such prior resolution.
22 (c) If an occasion arises when a state bank wishes to
23 remain closed on a particular day, other than a day on which
24 the bank has selected to remain closed on a regular basis as
25 provided in this Section, such state bank may remain closed
26 on such an occasion after first sending to the Commissioner a
27 copy of a resolution adopted by the board of directors
28 authorizing the bank to remain closed on such occasion and
29 notice of the intent to remain closed on such occasion shall
30 be conspicuously posted in the lobby of the main banking
31 office and any branches of such bank for at least 3 weeks in
32 advance of such occasion. Any day which any bank doing
33 business within the State shall select to remain closed
34 pursuant to this Section shall, with respect to such bank, be
-3- LRB093 10058 JLS 10309 b
1 treated and considered as a Sunday.
2 (d) All legal holidays, the half holidays and any day
3 selected by a bank doing business within the State to remain
4 closed, shall, for all purposes whatsoever, as regards the
5 presenting for payment or acceptance, the maturity and
6 protesting and giving of notice of the dishonor of bills of
7 exchange, bank checks and promissory notes and other
8 negotiable or commercial paper or instrument, be treated and
9 considered as a Sunday. When any such holidays fall on
10 Sunday, the Monday next following shall be held and
11 considered such holiday. All notes, bills, drafts, checks or
12 other evidence of indebtedness, falling due or maturing on
13 either of such days, shall be deemed as due or maturing upon
14 the day following, and when 2 or more of these days come
15 together, or immediately succeeding each other, then such
16 instruments, paper or indebtedness shall be deemed as due or
17 having matured on the day following the last of such days.
18 (e) Any act authorized, required or permitted to be
19 performed at or by or with respect to any bank doing business
20 within the State on a day which it has selected to remain
21 closed under this Section may be so performed on the next
22 succeeding business day and no liability or loss of rights of
23 any kind shall result from such delay.
24 (f) Nothing in this Act shall in any manner affect the
25 validity of, or render void or voidable, the payment,
26 certification, or acceptance of a check or other negotiable
27 instrument, or any other transaction by a bank in this State,
28 because done or performed on any Saturday, Sunday, holiday,
29 or any day selected by a bank to remain closed, or during any
30 time other than regular banking hours; but no bank in this
31 State, which by law or custom is entitled to remain open or
32 to close for the whole or any part of any day selected by it
33 to remain open or to close, is compelled to close, or to
34 remain open for the transaction of business or to perform any
-4- LRB093 10058 JLS 10309 b
1 of the acts or transactions aforesaid except at its own
2 option.
3 (Source: P.A. 89-508, eff. 7-3-96; 89-567, eff. 7-26-96;
4 90-14, eff. 7-1-97.)