Unclaimed property: interest assessments and disclosure of records.
It became law on Sep 13, 2022.
- Stage
- Became law
- Started in
- Assembly
- Sponsor
- 1
- Latest action
- Sep 13, 2022
What it does
(1) Under existing law, property held by a person that belongs to another and that is unclaimed for more than specified periods escheats to the state. Existing law requires persons holding unclaimed property to report and pay or deliver it to the Controller within a prescribed time period, except as specified, and imposes interest payments for a failure to do so. Existing law requires the holder, if the property is not subject to escheat after the report is filed and before payment or delivery is made, to file another report instead of paying or delivering the property. Existing law limits the interest payable to $10,000 if a holder pays or delivers unclaimed property in a timely manner,…
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
Once a bill is decided, the questions are about what is done with it in California.