SECTIONS 1870-1872 - California Statutes

FINANCIAL CODE

SECTION 1870-1872

1870. Any licensee may surrender its license by filing with the
commissioner the license and a report with any information as the
commissioner requires. The voluntary surrender of the license shall
become effective at the time and upon the conditions as the
commissioner specifies by order.

1871. If any provision of this chapter or the application thereof
to any person or circumstances is held invalid, illegal, or
unenforceable, that invalidity, illegality, or unenforceability shall
not affect other provisions or applications of this chapter that can
be given effect without the invalid, illegal, or unenforceable
provision or application, and to this end, the provisions of this
chapter are declared to be severable.

1872. (a) A license issued under Chapter 14 (commencing with
Section 1800), Chapter 14A (commencing with Section 1851), or
Division 16 (commencing with Section 33000) that is in effect
immediately before January 1, 2011, shall remain in effect as a valid
license under this chapter.
(b) Any person that, prior to January 1, 2011, was not required to
obtain a license under Chapter 14 (commencing with Section 1800),
Chapter 14A (commencing with Section 1851), or Division 16
(commencing with Section 33000), but is required to have a license
under this chapter, shall file an application for a license pursuant
to this chapter by July 1, 2011, in order to continue conducting
money transmission in this state directly or through agents. If the
application is timely filed and pending with the commissioner, that
person may continue to conduct money transmission in this state,
until the application has been approved, abandoned, or denied.