Amended IN Assembly June 04, 2020 Amended IN Assembly May 04, 2020 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 2198Introduced by Assembly Member TingFebruary 12, 2020 An act to add Section 1543 to the Code of Civil Procedure, relating to unclaimed property. LEGISLATIVE COUNSEL'S DIGESTAB 2198, as amended, Ting. Unclaimed property: report to the Legislature. secure payment of claims.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 require authorize the Controller, by January 1, 2022, Controller to implement additional measures designed to streamline the secure payment of claims, as specified.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 1543 is added to the Code of Civil Procedure, to read:1543. Notwithstanding Section 1540, by January 1, 2022, 1540, the Controller shall may do any of the following to streamline the secure payment of claims by doing all of the following: claims:(a)For property worth five thousand dollars ($5,000) or less, if the Controller can identify the owner without the submission of claim documents, the Controller shall initiate a transfer of the property to the owner.(b)(a) Minimize the number of documents a claimant is required to submit for property under five thousand dollars ($5,000).(c)(b) Allow electronic submission of documentation to the Controllers internet website for all claims. any claim deemed appropriate by the Controller.(d)Increase the maximum threshold amount for claims that may be submitted online to ten thousand dollars ($10,000).(c) Authorize the direct deposit by electronic fund transfer for the payment of an approved claim.
Amended IN Assembly June 04, 2020 Amended IN Assembly May 04, 2020 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 2198Introduced by Assembly Member TingFebruary 12, 2020 An act to add Section 1543 to the Code of Civil Procedure, relating to unclaimed property. LEGISLATIVE COUNSEL'S DIGESTAB 2198, as amended, Ting. Unclaimed property: report to the Legislature. secure payment of claims.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 require authorize the Controller, by January 1, 2022, Controller to implement additional measures designed to streamline the secure payment of claims, as specified.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO
Amended IN Assembly June 04, 2020 Amended IN Assembly May 04, 2020
Amended IN Assembly June 04, 2020
Amended IN Assembly May 04, 2020
CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION
Assembly Bill
No. 2198
Introduced by Assembly Member TingFebruary 12, 2020
Introduced by Assembly Member Ting
February 12, 2020
An act to add Section 1543 to the Code of Civil Procedure, relating to unclaimed property.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 2198, as amended, Ting. Unclaimed property: report to the Legislature. secure payment of claims.
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 require authorize the Controller, by January 1, 2022, 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 require authorize the Controller, by January 1, 2022, Controller to implement additional measures designed to streamline the secure payment of claims, as specified.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 1543 is added to the Code of Civil Procedure, to read:1543. Notwithstanding Section 1540, by January 1, 2022, 1540, the Controller shall may do any of the following to streamline the secure payment of claims by doing all of the following: claims:(a)For property worth five thousand dollars ($5,000) or less, if the Controller can identify the owner without the submission of claim documents, the Controller shall initiate a transfer of the property to the owner.(b)(a) Minimize the number of documents a claimant is required to submit for property under five thousand dollars ($5,000).(c)(b) Allow electronic submission of documentation to the Controllers internet website for all claims. any claim deemed appropriate by the Controller.(d)Increase the maximum threshold amount for claims that may be submitted online to ten thousand dollars ($10,000).(c) Authorize the direct deposit by electronic fund transfer for the payment of an approved claim.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. Section 1543 is added to the Code of Civil Procedure, to read:1543. Notwithstanding Section 1540, by January 1, 2022, 1540, the Controller shall may do any of the following to streamline the secure payment of claims by doing all of the following: claims:(a)For property worth five thousand dollars ($5,000) or less, if the Controller can identify the owner without the submission of claim documents, the Controller shall initiate a transfer of the property to the owner.(b)(a) Minimize the number of documents a claimant is required to submit for property under five thousand dollars ($5,000).(c)(b) Allow electronic submission of documentation to the Controllers internet website for all claims. any claim deemed appropriate by the Controller.(d)Increase the maximum threshold amount for claims that may be submitted online to ten thousand dollars ($10,000).(c) Authorize the direct deposit by electronic fund transfer for the payment of an approved claim.
SECTION 1. Section 1543 is added to the Code of Civil Procedure, to read:
### SECTION 1.
1543. Notwithstanding Section 1540, by January 1, 2022, 1540, the Controller shall may do any of the following to streamline the secure payment of claims by doing all of the following: claims:(a)For property worth five thousand dollars ($5,000) or less, if the Controller can identify the owner without the submission of claim documents, the Controller shall initiate a transfer of the property to the owner.(b)(a) Minimize the number of documents a claimant is required to submit for property under five thousand dollars ($5,000).(c)(b) Allow electronic submission of documentation to the Controllers internet website for all claims. any claim deemed appropriate by the Controller.(d)Increase the maximum threshold amount for claims that may be submitted online to ten thousand dollars ($10,000).(c) Authorize the direct deposit by electronic fund transfer for the payment of an approved claim.
1543. Notwithstanding Section 1540, by January 1, 2022, 1540, the Controller shall may do any of the following to streamline the secure payment of claims by doing all of the following: claims:(a)For property worth five thousand dollars ($5,000) or less, if the Controller can identify the owner without the submission of claim documents, the Controller shall initiate a transfer of the property to the owner.(b)(a) Minimize the number of documents a claimant is required to submit for property under five thousand dollars ($5,000).(c)(b) Allow electronic submission of documentation to the Controllers internet website for all claims. any claim deemed appropriate by the Controller.(d)Increase the maximum threshold amount for claims that may be submitted online to ten thousand dollars ($10,000).(c) Authorize the direct deposit by electronic fund transfer for the payment of an approved claim.
1543. Notwithstanding Section 1540, by January 1, 2022, 1540, the Controller shall may do any of the following to streamline the secure payment of claims by doing all of the following: claims:(a)For property worth five thousand dollars ($5,000) or less, if the Controller can identify the owner without the submission of claim documents, the Controller shall initiate a transfer of the property to the owner.(b)(a) Minimize the number of documents a claimant is required to submit for property under five thousand dollars ($5,000).(c)(b) Allow electronic submission of documentation to the Controllers internet website for all claims. any claim deemed appropriate by the Controller.(d)Increase the maximum threshold amount for claims that may be submitted online to ten thousand dollars ($10,000).(c) Authorize the direct deposit by electronic fund transfer for the payment of an approved claim.
1543. Notwithstanding Section 1540, by January 1, 2022, 1540, the Controller shall may do any of the following to streamline the secure payment of claims by doing all of the following: claims:
(a)For property worth five thousand dollars ($5,000) or less, if the Controller can identify the owner without the submission of claim documents, the Controller shall initiate a transfer of the property to the owner.
(b)
(a) Minimize the number of documents a claimant is required to submit for property under five thousand dollars ($5,000).
(c)
(b) Allow electronic submission of documentation to the Controllers internet website for all claims. any claim deemed appropriate by the Controller.
(d)Increase the maximum threshold amount for claims that may be submitted online to ten thousand dollars ($10,000).
(c) Authorize the direct deposit by electronic fund transfer for the payment of an approved claim.