§ 25-1-4 - Effect of Saturday closing on rights and obligations.
SECTION 25-1-4
§ 25-1-4 Effect of Saturday closing onrights and obligations. – Any Saturday upon which any bank, savings bank, trust company, safe depositcompany, building-loan association, national banking association, or federalsavings and loan association, or any branch or office of the institution shallremain closed pursuant to the provisions of § 25-1-3 and this sectionshall, with respect to the closed institution, branch, or office, be a holidayfor the purpose of chapter 3 of title 6A. If any bank, savings bank, trustcompany, safe deposit company, building-loan association, national bankingassociation, or federal savings and loan association, or any branch or officeof the institution shall close on any Saturday pursuant to the provisions of§ 25-1-3, any act which would be required to be performed on any Saturdayat or by the institution, or any branch or office of the institution, if theinstitution, branch, or office of the institution were not closed, shall beperformed on the next succeeding business day, and any act which would beauthorized or permitted to be performed on any Saturday at or by theinstitution, or any branch or office of the institution, if the institution,branch, or office of the institution were not closed, may be performed on thenext succeeding business day. No liability or loss of rights of any kind shallresult from the failure to perform any of those acts while closed on anySaturday.