AB 1208: Unclaimed property: secure payment of claims.
- Session Year: 2021-2022
- House: Assembly
- Latest Version Date: 2022-09-13
The Unclaimed Property Law governs the disposition of unclaimed property, including the escheat of certain property to the state. Those provisions require a person holding funds or other property escheated to the state to report to the Controller certain information regarding the property and the owner, and set forth procedures whereby a person may file a claim to the property or to the net proceeds from its sale.
This bill would authorize the Controller to implement additional measures designed to streamline the secure payment of claims, as specified.
The Unclaimed Property Law governs the disposition of unclaimed property, including the escheat of certain property to the state. Those provisions require a person holding funds or other property escheated to the state to report to the Controller certain information regarding the property and the owner, and set forth procedures whereby a person may file a claim to the property or to the net proceeds from its sale.
This bill would authorize the Controller to implement additional measures designed to streamline the secure payment of claims, as specified.
The Unclaimed Property Law governs the disposition of unclaimed property, including the escheat of certain property to the state. Those provisions require a person holding funds or other property escheated to the state to report to the Controller certain information regarding the property and the owner, and set forth procedures whereby a person may file a claim to the property or to the net proceeds from its sale.
This bill would authorize the Controller to implement additional measures designed to streamline the secure payment of claims, as specified.
Notwithstanding Section 1540, the Controller may do any of the following to streamline the secure payment of claims:
(a)Minimize the number of documents a claimant is required to submit for property valued at less than five thousand dollars ($5,000).
(b)Allow electronic submission of documentation to the Controllers internet website for any claim deemed appropriate by the Controller.
(c)Authorize direct deposit by electronic fund transfer for the payment of an approved claim.
Notwithstanding Section 1540, the Controller may do any of the following to streamline the secure payment of claims:
(a)Minimize the number of documents a claimant is required to submit for property valued at less than five thousand dollars ($5,000).
(b)Allow electronic submission of documentation to the Controllers internet website for any claim deemed appropriate by the Controller.
(c)Authorize direct deposit by electronic fund transfer for the payment of an approved claim.
Notwithstanding Section 1540, the Controller may do any of the following to streamline the secure payment of claims:
(a)Minimize the number of documents a claimant is required to submit for property valued at less than five thousand dollars ($5,000).
(b)Allow electronic submission of documentation to the Controllers internet website for any claim deemed appropriate by the Controller.
(c)Authorize direct deposit by electronic fund transfer for the payment of an approved claim.
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Date
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Status
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|---|---|
| Sep 13, 2022 | Chaptered by Secretary of State - Chapter 270, Statutes of 2022. |
| Sep 13, 2022 | Approved by the Governor. |
| Aug 31, 2022 | Enrolled and presented to the Governor at 4 p.m. |
| Aug 26, 2022 | Enrolled measure version corrected. |
| Aug 23, 2022 | In Assembly. Ordered to Engrossing and Enrolling. |
| Aug 23, 2022 | Read third time. Passed. Ordered to the Assembly. (Ayes 40. Noes 0. Page 4975.). |
| Aug 22, 2022 | Ordered to special consent calendar. |
| Aug 11, 2022 | From committee: Do pass. (Ayes 7. Noes 0.) (August 11). |
| Jun 20, 2022 | In committee: Referred to suspense file. |
| Jun 1, 2022 | From committee: Do pass and re-refer to Com. on APPR with recommendation: To Consent Calendar. (Ayes 8. Noes 0.) (May 31). Re-referred to Com. on APPR. |
| May 4, 2022 | Referred to Com. on JUD. |
| Feb 1, 2022 | In Senate. Read first time. To Com. on RLS. for assignment. |
| Jan 31, 2022 | Read third time. Passed. Ordered to the Senate. (Ayes 76. Noes 0. Page 3432.) |
| Jan 24, 2022 | From inactive file. |
| Jan 20, 2022 | Notice of intention to remove from inactive file given by Assembly Member Ting. |
| Jun 3, 2021 | Ordered to inactive file at the request of Assembly Member Ting. |
| Jun 1, 2021 | Action rescinded and record expunged whereby a roll call vote was taken. |
| May 24, 2021 | Read second time. Ordered to third reading. |
| May 20, 2021 | From committee: Do pass. (Ayes 16. Noes 0.) (May 20). |
| Apr 14, 2021 | In committee: Set, first hearing. Referred to APPR. suspense file. |
| Mar 23, 2021 | From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 11. Noes 0.) (March 23). Re-referred to Com. on APPR. |
| Mar 4, 2021 | Referred to Com. on JUD. |
| Feb 22, 2021 | Read first time. |
| Feb 20, 2021 | From printer. May be heard in committee March 22. |
| Feb 19, 2021 | Introduced. To print. |
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Date
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Description
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Location
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Votes
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|---|---|---|---|---|
| Aug 23, 2022 | Special Consent AB1208 | Senate Floor |
Passed |
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| Jan 31, 2022 | AB 1208 Ting Assembly Third Reading | Assembly Floor |
Passed |
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