9-1709.   Forfeiture of certificate for noncompliance.Any bank or trust company which shall refuse or neglect for a period of90 days after demand in writing is made to comply with anyrequirement lawfully made upon it by the commissioner shall be deemed tohave forfeited its franchise and the commissioner shall thereupon revokeits authority to transact business. The commissioner shall give noticeof such revocation to the president, cashier, or other managing officerof such bank or trust company and also by publishing a copy of suchorder of revocation in the Kansas register.The attorney general,upon the request of the commissioner, then shall begin action for theappointment of a receiver for such bank or trust company and to dissolvethe same.

      History:   L. 1947, ch. 102, § 96; L. 1981, ch. 324, § 7; Jan. 1, 1982.