Controller’s Office and Escheated Funds Draws Attention
Legislation (SB 919) was recently introduced in the California State Senate that would address how the State Controller should accept escheated funds. The bill would place new requirements on the Controller’s Office to locate and notify property owners that the Controller may have received their unclaimed property. The legislation comes on top of a court case addressing the matter of the State Controller and that office’s acceptance of escheated funds.
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Legislation (SB 919) was recently introduced in the California State Senate that would address how the State Controller should accept escheated funds. The bill would place new requirements on the Controller’s Office to locate and notify property owners that the Controller may have received their unclaimed property. The legislation comes on top of a court case addressing the matter of the State Controller and that office’s acceptance of escheated funds.