Bill > SB1066

This bill makes a minor, non-substantive change to existing California law regarding unclaimed property, which is property that has been abandoned by its owner and is held by a third party. Specifically, it amends Section 1510 of the Code of Civil Procedure, which outlines the conditions under which intangible personal property, such as uncashed checks or forgotten bank accounts, escheats (transfers) to the state. The change involves removing the phrase "of this state" after "statute," meaning that intangible property will now escheat to California if the conditions for escheat exist and the property is not otherwise provided for by any statute, not just a statute of California. This update is considered a technical correction to clarify the scope of the law.

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB1066