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Cal. Civ. Proc. Code § 1562

Administration of Unclaimed Property

Known as the Unclaimed Property Law

The act spans §§ 1500–1582 (61 sections).

Applied in 1 court decision — leading case Suever v. Connell (2006)

Most recently applied in Suever v. Connell (March 2006)

Added by renumbering Section 1514 by Stats. 1968, Ch. 356.

When property other than money is delivered to the State Controller under this chapter, any dividends, interest or other increments realized or accruing on such property at or prior to liquidation or conversion thereof into money, shall upon receipt be credited to the owner’s account by the State Conroller. Except for amounts so credited the owner is not entitled to receive income or other increments on money or other property paid or delivered to the State Controller under this chapter. All interest received and other income derived from the investment of moneys deposited in the Unclaimed Property Fund under the provisions of this chapter shall, on order of the State Controller, be transferred to the General Fund.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.