returning to the previous state

After a TLS connection has been established over top of an existing protocol's
TCP connection, as could be done using draft-hoffman-smtp-ssl-02, is the 
meaning of the "close_notify" alert in TLS that the sender will revert back to 
using the protocol (such as SMTP) in the state from before TLS was established?

E.g. with SMTP

S: <waits for connection on TCP port 25>
C: <opens connection>
S: 220 mail.imc.org SMTP service ready              | plain text 
C: EHLO mail.ietf.org
S: 250-mail.imc.org is ever so glad you called
S: 250 TLS TLS1.0 SSL3.0
C: STARTTLS TLS1.0
S: 220 Go ahead with TLS1.0
C & S: <start TLS session> 
C & S: <check result of negotiation>                ] inside TLS
C: MAIL FROM: nobody                                ]
S: 550 Submission from nobody not permitted         ] 
C: <TLS close notify>                               ]
C: MAIL FROM: nobody                                | plain text again
S: 250 OK


Thanks in advance,

Mark Wahl, Enterprise Directory Integration
Critical Angle Inc.