The law addressing emergency closing procedures for state-chartered institutions is (MD Code Ann., Fin. Inst § 5-707) and for national banks and federally-chartered institutions (12 USC § 95(b)(1) and 12 CFR § 7.3000(b)). The Office of the Controller of the Currency (OCC) reminds management of national banks and federally-chartered institutions that they have the discretion to make individual decisions to remain open or to close in the event of a natural disaster or other emergency and are encouraged to consult OCC Bulletin 2008-26, Responding to Disasters.

State-chartered institutions: Should the chairman of the board of directors or the president of the institution decide that an emergency exists, follow the procedures outlined in Maryland law, including notifying the Governor's office within 24 hours of the closing. You may easily transmit your notice through the Governor’s website at http://www.gov.state.md.us/mail/. Please put "Notice of Emergency Bank Closing" in the subject line. Although not required by statute, any bank that closes one or more branches on an emergency basis is requested to email the Director of the Governor’s office Sam Clark (at sclark@gov.state.md.us), as well as Teresa Louro (at tlouro@dllr.state.md.us) and Marcia Ryan (at mryan@dllr.state.md.us) in the Office of the Commissioner regarding the closing.