I was attempting to setup our holidays in Forms 12.0.2503.10378 and the configuration only allows for the holiday falling on a weekend. 

Could the weekend setting for holidays be split into Saturday and Sunday on the configuration?

Our state statute follows this:

Any legal holiday that falls on Saturday, the preceding Friday shall be a holiday and any legal holiday enumerated herein other than Sunday that falls on Sunday, the following Monday shall be a holiday.

Without separate days in the Forms holiday configuration, we cannot use the holidays.

I see under the exceptions that if you use 

• Moved to the nearest business day: Under most circumstances, a Saturday holiday would be observed on the preceding Friday, and a Sunday holiday would be observed on the next Monday.

The statement "Under most circumstances" concerns me, as it doesn't seem like the results will be what I expect if I set things up using this exception.