Section 1. Section 113(a) and (b) of the act of November 30, 1965 (P.L.847, No.356), known as the Banking Code of 1965, amended March 4, 1982 (P.L.135, No.44) and December 13, 1985 (P.L.331, No.89), are amended to read:
Section 113. Legal Holidays
(a) Fixed holidays--An institution shall observe as a legal holiday:
(i) New Year's Day (January 1);
(i.1) Dr. Martin Luther King, Jr. Day (the third Monday
in January);
(ii) Memorial Day (the last Monday in May);
(iii) Independence Day (July 4);
(iv) Labor Day (the first Monday in September);
(v) Thanksgiving Day (the fourth Thursday in November);
(vi) Christmas Day (December 25);
(vii) each Sunday, except for such activities or conduct
of business at such locations as the bank may elect;
(viii) each Monday following an Independence Day, a
Christmas Day or New Year's Day which occurs on a Sunday; and
(ix) each day specifically appointed by the President of
the United States or the Governor of the Commonwealth as a
legal holiday or as a bank holiday.
(b) Optional holidays--An institution may at its option observe as a legal holiday:
(i) Lincoln's Birthday (February 12);
(ii) Washington's Birthday (the third Monday in
February);
(iii) Good Friday;
(iv) Flag Day (June 14);
(v) Columbus Day (the second Monday in October);
(vi) Election Day (the first Tuesday after the first
Monday in November);
(vii) Veterans' Day (November 11);
(viii) each Saturday either as a half-holiday after 12
o'clock noon or as a full holiday;
(ix) each Monday following an Independence Day, a
Christmas Day or New Year's Day which occurs on a Saturday;
and
(x) each day which the department permits all
institutions by public announcement, or an individual
institution by written permission, to observe as a legal
holiday.
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