Olson Burns Lee, P.C. Law Practice

January-February_2008

Page 1

Welcome to the on-line
January-February_2008 issue of the
Community Bankers' Advisor
. . . . . . . . . . .

The Advisor is prepared by attorneys at Olson & Burns P.C. to provide information pertaining to legal developments affecting the field of banking. In order to accomplish this objective, we welcome any comments our readers have regarding the content and format of this publication. Please address your comments to:

Community Bankers' Advisor
c/o Olson & Burns P.C.
PO Box 1180
Minot, ND 58702-1180

olsonpc@minotlaw.com

Also, visit our web site at:
www.minotlaw.com

The attorneys at Olson & Burns represent a wide range of clients in the financial and commercial areas. Our attorneys represent more than 30 banks throughout North Dakota.

January/February, 2008

PANDEMIC PLANNING

A possible future flu pandemic has been on the minds of both North Dakota legislators and federal regulatory agencies. Effective August 1, 2007, the North Dakota Legislature enacted Senate Bill 2182, relating to bank operations in the case of an epidemic or other emergency. This Bill created a new section to N.D.C.C.Ch. 6-03, providing that any bank in an area that is experiencing an epidemic or other emergency may adjust its operations in any reasonable manner to protect its customers, employees, asset, or business. It may also temporarily close, relocate, or restrict access to offices or services. The bank shall promptly, or no later than later than 3 days, notify the commissioner of any actions it takes under this section. The law also provides that changes made under this section may not exceed 60 days, unless the commissioner extends the time.

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