# Financial Institutions (GFI)

## Title 5. Banking Institutions -- General Provisions

### Subtitle 7. Bank Holidays

#### Section 5-701

(a) In this subtitle the following words have the meanings indicated.

(b) "Federal holiday" means, as to each corresponding legal holiday, the date that the federal government designates for observance of the holiday.

(c) "Optional bank holiday" means a day on which a banking institution is authorized to be closed.

#### Section 5-702

For the purposes of this subtitle, the operation of an automated teller machine or the conduct of internal operations by a banking institution does not constitute being open for business.

#### Section 5-703

(a) Except as provided in subsection (b) of this section, a banking institution shall be open for business on each day during the year except for the days on which the banking institution is required or authorized by this subtitle to be closed.

(b) The Commissioner may approve the operation of a branch that is open for business fewer days than described in subsection (a) of this section if the Commissioner determines that:

  (1) The branch will serve a customer base or community that has unique banking needs;

  (2) At least 1 other branch of the banking institution is open for business as described in subsection (a) of this section; and

  (3) The operation of the branch will not be detrimental to the public interest or to banking institutions.

#### Section 5-704

Each banking institution shall be closed on Sunday.

#### Section 5-705

(a)

  (1) Subject to paragraph (2) of this subsection, each banking institution shall be closed on the following legal holidays:

    (i) New Year's Day;

    (ii) Dr. Martin Luther King, Jr.'s Birthday;

    (iii) Washington's Birthday;

    (iv) Good Friday;

    (v) Memorial Day;

    (vi) Independence Day;

    (vii) Labor Day;

    (viii) Columbus Day;

    (ix) Veterans' Day;

    (x) Thanksgiving Day; and

    (xi) Christmas Day.

  (2)

    (i) When a legal holiday differs from the corresponding federal holiday, a banking institution:

      (1) May be closed on both holidays; and

      (2) Shall be closed on one of the holidays.

    (ii) When there is no corresponding federal holiday for a legal holiday listed in paragraph (1) of this subsection, a banking institution:

      (1) May be closed on the legal holiday; or

      (2) May remain open on the legal holiday.

(b)

  (1) Each legal holiday that is not listed in subsection (a) of this section is an optional bank holiday.

  (2) When, as to any optional bank holiday, the legal holiday differs from the corresponding federal holiday, a banking institution may be closed on:

    (i) Both holidays;

    (ii) The legal holiday; or

    (iii) The federal holiday.

#### Section 5-706

(a) Saturday is an optional bank holiday.

(b) A banking institution that opens for business on Saturday may close at noon.

#### Section 5-707

(a)

  (1) In this section, "emergency" has the meaning stated in Sec. 14-307 of the Public Safety Article.

  (2) "Emergency" includes a cybersecurity incident that necessitates the closure of a banking institution or a branch of a banking institution.

(b)

  (1) If the Governor proclaims that an emergency exists in a political subdivision and designates days for the general cessation of business in the subdivision, each banking office that is located within the subdivision shall be closed on those days.

  (2) If the Governor proclaims that an emergency exists in a political subdivision, the Governor may designate days on which each banking office that is located within the subdivision may be closed.

  (3) If the Governor proclaims that an emergency exists as to a particular banking office, that office may be closed on those days that the Governor designates.

  (4) When the Governor authorizes, but does not require, the banking institution to be closed, the chairman of its board of directors or its president shall decide whether to close or remain open.

(c)

  (1) If an emergency exists and affects a banking institution and if it is not practical to obtain a proclamation from the Governor before closing the affected institution, the chairman of its board of directors or its president:

    (i) May close the banking institution; and

    (ii) As soon as possible, but within 24 hours after the closing, shall notify the Governor of the reasons for the closing.

  (2) A banking institution may be closed under this subsection until the earlier of:

    (i) Issuance by the Governor of a proclamation that relates to the emergency closing;

    (ii) Notice to the banking institution that the Governor will not issue a proclamation;

    (iii) Reopening of the banking institution by the chairman of its board of directors or by its president; or

    (iv) 5 p.m. on the third day after the closing, except for Saturdays, Sundays, and legal holidays.

#### Section 5-708

A banking institution shall be open for business or shall be closed on optional bank holidays, as the directors of the banking institution may specify by resolution.

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Md. Code Ann., Fin. Inst. (as displayed at mgaleg.maryland.gov, October 16, 2026)