§ 1106 Bank Revocation Certificate Filing

• •The revocation paper must be filed with the Secretary of State.
• •The commissioner must approve and endorse the paper before it becomes effective.
• •After it becomes effective, the bank must promptly send a certified copy of the revocation to the commissioner.

A bank’s license is taken away. The bank sends the revocation notice to the Secretary of State, gets the commissioner’s stamp of approval, and once the notice is official, the bank mails a certified copy back to the commissioner.

The revocation doesn’t count until it’s filed and approved, and the bank must quickly give the commissioner a certified copy of the same notice.