9-513. Money transmitter; invalidity of part; interpretation of act.
9-513
9-513. Money transmitter; invalidity of part;
interpretation of act.
(a) If any sentence, clause, provision or section of this act or the
applicability thereof to any person or circumstance shall be held invalid,
such invalidity shall not affect the validity of the remainder of this act
or its applicability to other persons or circumstances. It shall be
presumed conclusively that the legislature would have enacted the remainder
of this act without the sentence, clause, provision or section held
invalidly enacted or applied.
(b) This act shall be interpreted by the commissioner for the purpose of
protecting the citizens of this state, against financial loss, who purchase
payment instruments or who give money or control of their funds or credit into
the custody of another person for transmission, regardless of whether the
transmitter has any office, facility, agent or other physical presence in the
state.
History: L. 1967, ch. 73, § 6;
L. 2006, ch. 113, § 10; July 1.