Business Days and Emergencies

V.S.A. tit. 8, ch. 201, subch. 2

in effect

8 V.S.A. § 11201 Business days

11201. Business days (a)(1) For purposes of this title, unless otherwise provided under other state or federal law applicable to a Vermont or state financial institution that is a depository institution, a business day is a calendar day other than the following: (A) Saturday and Sunday; (B) New Year’s Day, January 1; (C) Martin Luther King Jr.’s Birthday, the third Monday in January; (D) Presidents’ Day, the third Monday in February; (E) Town Meeting Day, the first Tuesday in March; (F) Memorial Day, the last Monday in May; (G) Independence Day, July 4; (H) Bennington Battle Day, August 16; (I) Labor Day, the first Monday in September; (J) Indigenous Peoples’ Day, the second Monday in October; (K) Veterans’ Day, November 11; (L) Thanksgiving Day, the fourth Thursday in November; (M) Christmas Day, December 25. (2) A legal holiday that falls on a Saturday may be observed on the preceding Friday, and a legal holiday that falls on a Sunday may be observed on the following Monday. (b) A Vermont financial institution may choose to remain open or to close any of its banking offices on any of the days enumerated in subsection (a) of this section. Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2019, No. 14, § 11, eff. April 30, 2019; 2019, No. 18, § 3.

8 V.S.A. § 11202 Banking day

11202. Banking day (a) Each Vermont and state depository institution shall be open not less than five banking days each week, except for the days enumerated in subsection 11201(a) of this title or except as otherwise provided in this chapter. (b) In addition to the hours of each banking day established by an institution under subsection (a) of this section, a Vermont or state depository institution may, at its discretion, establish days and hours for its offices, including opening offices for business on days that are not defined as business days in section 11201 of this title. The financial institution’s governing body is responsible for determining the scope of operations of each branch, including the services to be provided and the days and hours of operation. (c) A Vermont or state depository institution shall post the days and hours of operation at or near the public entrances to its banking offices and shall provide customers with reasonable advance notice of reduction in services or hours of operation. (d) Any act authorized, required, or permitted to be performed at, by, or with respect to any Vermont or state depository institution on a day not defined as a business day or on a day the institution is closed pursuant to section 11204 or 11205 of this title, may be performed on the next succeeding business day and liability or loss of rights of any kind to such financial institution shall not result from this delay. Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.

8 V.S.A. § 11203 Special hours

11203. Special hours In addition to the hours of each banking day under subsection 11202(a) of this title, a Vermont or state depository institution may have special hours on banking or other than banking days when it is open in a limited capacity for certain definite and stated transactions or purposes only, constituting substantially less than all of its banking functions. A copy of such schedule of special hours shall be filed with the Commissioner. The payment, certification, or acceptance of a check or other negotiable instrument or any other transaction by such financial institution shall be valid, notwithstanding it was done or performed during such special hours on other than a banking day. A Vermont or state depository institution with special hours on other than a banking day shall not constitute such day a “banking day,” for the purpose of notice, presentment, protest, notice of protest, or the time requirements for any act or action or notice to perfect or preserve rights accorded under 9A V.S.A. article 4. Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.

8 V.S.A. § 11204 Closing for cause

11204. Closing for cause A Vermont or state depository institution may temporarily close any of its offices for reasons that include good cause, extreme weather conditions, and community events. If a Vermont or state depository institution temporarily closes any of its offices for all or any part of a banking day, the institution shall post a conspicuous notice of the closing at all points of public access to the closed offices. A closing may not become effective until such notice is posted at the office to be closed. Posting this notice relieves the institution from liability for failure to perform any of the business of the financial institution at the closed offices. The Commissioner may, by adopting rules, establish standards governing the form and content of the notice required under this section and may require dissemination of the notice of closing by any other reasonable means. Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.

8 V.S.A. § 11205 Emergency closing by financial institution

11205. Emergency closing by financial institution (a) If an emergency arises or is so imminent and immediate as to interfere with or threaten the conduct of normal banking transactions or the safety and welfare of a Vermont or state depository institution’s plant, assets, or personnel, the financial institution officer or official in charge of any office open to the public may determine not to open the office so threatened or close the same, if open. The financial institution shall notify the Commissioner of the emergency closing, as soon as reasonably possible. In no case, however, shall the office or offices closed under this section remain closed for more than two consecutive business days commencing the day following closure, except as otherwise provided by law, unless the Governor or Commissioner shall expressly authorize and sanction the same. (b) An emergency closing pursuant to this section, including the hours of any extension sanctioned by the Governor or Commissioner, shall be lawful and the time of such closing, including any partial day before a closing, shall be considered a holiday and not a banking day. Nevertheless, the transaction of any banking business shall be valid and have the same effect as if performed during special hours on other than a banking day in accordance with section 11203 of this title. Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/08/201Fetched: 10/21/2026