California AB2031 regulates the escheatment of unclaimed property and interests in business associations to the state.

California AB2031 amends the Code of Civil Procedure to establish rules for the escheatment of unclaimed property and interests in business associations to the state. It specifies that dividends, profits, distributions, interest, payments on principal, or other sums held by a business association for shareholders, certificate holders, members, bondholders, or other security holders, or participating patrons of a cooperative, will escheat to the state if unclaimed for three years.

California AB2031 regulates the escheatment of unclaimed property and interests in business associations to the state.

California AB2031 amends the Code of Civil Procedure to establish rules for the escheatment of unclaimed property and interests in business associations to the state. It specifies that dividends, profits, distributions, interest, payments on principal, or other sums held by a business association for shareholders, certificate holders, members, bondholders, or other security holders, or participating patrons of a cooperative, will escheat to the state if unclaimed for three years.