Pennsylvania HB 1985: An Act amending the act of November 30, 1965 (P.L.847, No.356), known as the Banking Code of 1965, in general provisions, further providing for legal holidays; and making a repeal.

Bill Text

PRINTER'S NO. 2504
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 1985
Session of
2025
INTRODUCED BY RABB, RIVERA, KINKEAD AND CEPEDA-FREYTIZ,
OCTOBER 22, 2025
REFERRED TO COMMITTEE ON STATE GOVERNMENT, OCTOBER 23, 2025
AN ACT
Amending the act of November 30, 1965 (P.L.847, No.356),
entitled "An act relating to and regulating the business of
banking and the exercise by corporations of fiduciary powers;
affecting persons engaged in the business of banking and
corporations exercising fiduciary powers and affiliates of
such persons; affecting the shareholders of such persons and
the directors, trustees, officers, attorneys and employes of
such persons and of the affiliates of such persons; affecting
national banks located in the Commonwealth; affecting persons
dealing with persons engaged in the business of banking,
corporations exercising fiduciary powers and national banks;
conferring powers and imposing duties on the Banking Board,
on certain departments and officers of the Commonwealth and
on courts, prothonotaries, clerks and recorders of deeds;
providing penalties; and repealing certain acts and parts of
acts," in general provisions, further providing for legal
holidays; and making a repeal.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 113(b) of the act of November 30, 1965
(P.L.847, No.356), known as the Banking Code of 1965, is amended
to read:
Section 113. Legal Holidays
* * *
(b) Optional holidays--An institution may at its option
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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.
* * *
Section 2. Repeals are as follows:
(1) The General Assembly declares that the repeal under
paragraph (2) is necessary to effectuate the amendment of
section 113(b) of the act.
(2) The act of August 13, 1963 (P.L.660, No.345),
entitled "An act providing for the observance of October 12
of each year as Columbus Day," is repealed.
Section 3. This act shall take effect immediately.
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