1981 BANKING LAW. COPYRIGHT RODERICK H. SEEMAN

Article 16 (Extraordinary Recesses, etc.)

Excluding those situations provided for by the Ordinance of the Ministry of Finance, when a bank extraordinarily suspends that business totally or in part at those places of business or representative offices due to natural disaster or some other unavoidable reason, it must immediately make notification thereof with reasons attached to the Ministry of Finace as well as make public notification thereof and place a notification of such at a display at the said place of business or representative office. The same shall apply as well when the bank reinitiates such business totally or in part in that place of business or representative office which had its business suspended totally or in part.

2. Regardless of the provisions of the previous Paragraph, concerning workerless places of business or representative offices or other places as determined by the Ordinance of the Minsitry of Finance, public announcements based on the provisions of the same Paragraph are not required.