14 HќќѠіђџȱ юћјђџ ђяџѢюџѦȱ2014 &203/,$1&( &211(&7,21 Question: What are the requirements under Indiana law for a bank to close in the case of an emergency on a day which is not a legal holiday? DZȱThe Indiana Financial Institutions Act (the “Act”) describes the conditions under which an Indiana bank may close in the case of an emergency. If in the reasonable and proper exercise of ȱǰȱȱĜȱȱȱȱ determine that an emergency exists, ȱ ȱȱȱȱĜȱ¢ȱ either (a) not open one or more of the ĜȱȱȱȱȱǻǼȱȱȱĜȱ are already open, close one or more ȱȱĜȱȱȱǯ1 In this regard, an “emergency” includes: 1. Any condition or occurrence that may interfere physically with the conduct of normal business operations; or poses an imminent or existing threat to the safety or security of persons, property, or both persons and property at one ȱȱȱȱĜȱȱȱDz 2. Any condition or occurrence that is declared a state of disaster emergency by the governor under Indiana Code Section 10-14-3-122 and applies to the area where the ĜȱȱȱȱȱDzȱ 3. The death of or funeral services for ȱ¢ǰȱĜȱȱȱȱ a bank or for a former employee, Ĝȱȱȱȱȱǯ3 ȱ ȱȱȱȱȱĜȱȱȱ bank determine that an emergency ¡ȱȱȱȱĜȱȱȱǰȱ they must provide prompt notice of this action to the director of the Indiana Department of Financial Institutions.4ȱ ȱȱĜȱ ȱȱȱ for more than 48 consecutive hours on business days (excluding legal ABOUT COMPLIANCE CONNECTION In order to address compliance inquiries from members, IBA provides Compliance Connection, an assistance ȱěȱȱȱ Ȭęȱȱ ǯȱ ȱȱĴȱȱȱǰȱ ȱ Compliance Connection will refer the bank to a law ęǯȱ ȱȱȱȱȱ ȱȱ¢ȱLarry C. , partner with Krieg DeVault LLP, Indianapolis, and IBA compliance consultant. Submit Compliance Connection questions to IBA’s ȱ ǯȱ ȱ ȱat avantil@indianabankers.org. 1See ,QG &RGH I 2 This section grants the governor authority to GHFODUH D GLVDVWHU HPHUJHQF\ E\ H[HFXWLYH RUGHU RU SURFODPDWLRQ LI WKH JRYHUQRU GHWHUPLQHV WKDW D GLVDVWHU KDV RFFXUUHG RU WKDW WKH RFFXUUHQFH RU WKH WKUHDW RI D GLVDVWHU LV LPPLQHQW 3 See ,QG &RGH D 4 See ,QG &RGH J 5 See ,QG &RGH I 7KLV LQIRUPDWLRQ LV SURYLGHG IRU JHQHUDO HGXFDWLRQ SXUSRVHV DQG LV QRW LQWHQGHG WR EH OHJDO DGYLFH 3OHDVH FRQVXOW OHJDO FRXQVHO IRU VSHFLÀF JXLGDQFH DV WR KRZ WKLV LQIRUPDWLRQ DSSOLHV WR \RXU LQVWLWXWLRQ·V FLUFXPVWDQFHV RU VLWXDWLRQ ¢ǼǰȱȱĜȱȱȱȱ ȱęȱȱȱȱȱȱ director of the Indiana Department of Financial Institutions.5 ȱ ǯȱ , director of ȱ ȱ ǰȱ , has completed 50 years of service to the bank. He began his career as a state bank examiner in 1960, then joined Home Building Association (now Home Bank) in 1963, and later was promoted to vice president. Levell was named president in 1981 and retired in 2000. Among other organizations, he has been active with Habitat for Humanity, the Martinsville Education Foundation, Community Foundation of Morgan ¢ǰȱȱ ȱ ȱ Chamber of Commerce, the Martinsville Kiwanis Club, United Way and St. Martins of Tours Catholic Church. Levell is a member of the Indiana Bankers Association Forty Year Club. Jody Brodie has completed 20 years of service to ȱ ȱ . ȱ has completed 20 years of service to ȱ ȱ . Two associates of ȱ ¢ȱ ȱ ǰȱ , have been recognized for their years of service: ¢ȱ , core system operations ĜȱȮȱřŖȱ¢Dz ȱ , director – 20 years. ANNIVERSARY MILESTONES $ VDOXWH WR EDQNHUV ZLWK \HDUV RI VHUYLFH %UDQFK 0DQDJHPHQW 6HULHV *UDGXDWH +HDWKHU *DUFLD OHIW &URVVURDGV %DQN :DEDVK LV FRQJUDWXODWHG E\ LQVWUXFWRU 'LDQQH %DUWRQ, 3HUIRUPDQFH 6ROXWLRQV ,QF IRU KDYLQJ FRPSOHWHG WKH ,%$ %UDQFK 0DQDJHPHQW 6HULHV
RkJQdWJsaXNoZXIy MTg3NDExNQ==