California AB1447 mandates the Controller to notify owners of unclaimed property valued at $50 or more.
California AB1447 amends the Code of Civil Procedure to require the Controller to notify owners of unclaimed property valued at $50 or more. The Controller must mail a notice to each person whose address is listed in a report and who appears to be entitled to escheated property. The notice must be sent within 165 days of the final date for filing the report. If the report includes a social security number, the Controller must request a current address from the Franchise Tax Board.
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