Existing law requires a person holding funds or other property escheated to the state to file a report with the Controller and to pay or deliver the escheated property to the Controller within a specified time, unless another person establishes their right to the property. Existing law requires any payment to the Controller of at least $20,000 in unclaimed cash to be made by electronic funds transfer.
This bill would instead require any payment of at least $2,000 in unclaimed cash to be made by electronic funds transfer.