(a) As used in this section:
(1) “Old act” means this chapter as it existed prior to January 1, 1969.
(2) “New act” means this chapter as it exists on and after January 1, 1969.
(3) “Property not subject to the old act” means property that was not presumed abandoned under the old act and would never have been presumed abandoned under the old act had the old act continued in existence on and after January 1, 1969, without change.
(b) This chapter does not apply to any property that was escheated under the laws of another state prior to September 18, 1959.
(c) This chapter does not require the holder to pay or deliver any property not subject to the old act to this state if the property was escheated under the laws of another state prior to January 1, 1969, and was delivered to the custody of that state prior to January 1, 1970, in compliance with the laws of that state. Nothing in this subdivision affects or limits the right of the State Controller to recover such property from the other state.