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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) There is established in the Special Deposit Fund in the State Treasury the Unclaimed Property Offset Account. Notwithstanding Section 13340, moneys in the account are continuously appropriated pursuant to Section 16372 for both of the following purposes:
(1) The payment of moneys to a state agency, local agency, city, county, community college district, special district, or court, or any other state or local governmental entity, to offset the moneys owed by a person claiming to be the owner of unclaimed property that has escheated to the state under Title 10 (commencing with Section 1300) of Part 3 of the Code of Civil Procedure.
(2) The payment of moneys to owners of unclaimed property that has escheated to the state after offsetting moneys paid pursuant to paragraph (1).
(b) The Controller may transfer to the Unclaimed Property Offset Account moneys held by the Controller from property that has escheated to the state under Title 10 (commencing with Section 1300) of Part 3 of the Code of Civil Procedure if the Controller has reason to believe the owner of the property has a debt to a state or local governmental entity.
Cite this article: FindLaw.com - California Code, Government Code - GOV § 16378 - last updated January 01, 2025 | https://codes.findlaw.com/ca/government-code/gov-sect-16378/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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