(a) Money deposited pursuant to paragraph (4) of subdivision (a) of Section 16377 shall be:
(1) Deposited by the department in the special deposit fund with the Treasurer.
(2) Payable to the judgment creditor upon presentation of a valid claim establishing that he or she is the judgment creditor for which the deposit was made and that the judgment remains unsatisfied.
(3) Refunded to the person making the deposit or to a person designated by himself or herself if the deposit remains unclaimed by the judgment creditor for a period of two years following the date of the deposit.
(4) The Controller shall draw his or her warrant on the Treasurer for any payment ordered pursuant to this section as ordered by the department.
(b) This section shall become operative on January 1, 2017.