California 2011-2012 Regular Session Status: Introduced

AB 2438 — Unclaimed property.

Last action — Read first time.

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  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Assembly
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2011-2012 Regular Session. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Under the Unclaimed Property Law, all escheated property delivered to the Controller is required to be sold by the Controller to the highest bidder at public sale, as specified. All money received by the state by escheat under the law, including proceeds from the sale of escheated property, is required to be deposited in the Abandoned Property Account of the Unclaimed Property Fund, which is continuously appropriated to the Controller for expenditure in carrying out and enforcing the Unclaimed Property Law, including the payment of claims allowed by the Controller under the law, the refund of amounts deposited in error to the fund, and the payment of costs incurred by the Controller for the repair, maintenance, and upkeep of property held in the name of an account in the fund. This bill would make technical, nonsubstantive changes to these provisions.

Bill Text

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Action History

  1. Read first time.

  2. From printer. May be heard in committee March 27.

  3. Introduced. To print.

Sponsors

  • Huffman · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Huffman

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
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Frequently asked questions

What does AB 2438 do?
Under the Unclaimed Property Law, all escheated property delivered to the Controller is required to be sold by the Controller to the highest bidder at public sale, as specified. All money received by the state by escheat under the law, including proceeds from the sale of escheated property, is required to be deposited in the Abandoned Property Account of the Unclaimed Property Fund, which is continuously appropriated to the Controller for expenditure in carrying out and enforcing the Unclaimed Property Law, including the payment of claims allowed by the Controller under the law, the refund of amounts deposited in error to the fund, and the payment of costs incurred by the Controller for the repair, maintenance, and upkeep of property held in the name of an account in the fund. This bill would make technical, nonsubstantive changes to these provisions.
Who sponsors AB 2438?
AB 2438 is sponsored by Huffman.
What is the current status of AB 2438?
This bill died with 2011-2012 Regular Session. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track AB 2438?
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Last checked for changes 3 months ago · updated continuously

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