Suspension or Revocation of License

If the Commissioner finds that any foreign banking corporation to which he has issued a license pursuant to § 106727 has violated any law or has conducted its affairs in an unauthorized manner, or is in an unsound or unsafe condition, or cannot with safety and expediency continue business, the Commissioner, may recommend that the Board suspend or revoke the license of such foreign banking corporation. The Board may then suspend or revoke such license, and shall notify the corporation of such suspension or revocation.