N.Y. General Construction Law § 25: Public holiday, Saturday or Sunday in contractual obligations; extension of time where performance of act authorized or required by contr...

§ 25. Public holiday, Saturday or Sunday in contractual obligations;

extension of time where performance of act authorized or required by

contract is due on Saturday, Sunday or public holiday. 1. Where a

contract by its terms authorizes or requires the payment of money or the

performance of a condition on a Saturday, Sunday or a public holiday, or

authorizes or requires the payment of money or the performance of a

condition within or before or after a period of time computed from a

certain day, and such period of time ends on a Saturday, Sunday or a

public holiday, unless the contract expressly or impliedly indicates a

different intent, such payment may be made or condition performed on the

next succeeding business day, and if the period ends at a specified

hour, such payment may be made or condition performed, at or before the

same hour of such next succeeding business day, with the same force and

effect as if made or performed in accordance with the terms of the

contract.

2. Where time is extended by virtue of the provisions of this section,

such extended time shall not be included in the computation of interest

unless the contract so provides, except that when the period is

specified as a number of months, such extended time shall be included in

the computation of interest unless the contract otherwise provides.

3. Notwithstanding any other provision of law, all time deposits and

certificates of deposit of banking organizations that mature on a

Saturday, Sunday or bank holiday shall continue to accrue interest at

the same rate fixed for the term of the deposit or certificate until the

first banking day next succeeding the date of maturity, at which the

principal and all accrued interest may be withdrawn, unless sooner

withdrawn by the depositor.