In connection with all unclaimed property, the Controller has all of the powers necessary in order to safeguard and conserve the interests of all parties, including the State, having any vested or expectant interest in such unclaimed property. His powers include, but are not limited to, the authority to incur obligations the payment of which is authorized by the provisions of Section 1325.
Management of Unclaimed PropertyPowers of the Controller
Section § 1365
This law gives the Controller the authority to manage and protect unclaimed property to benefit everyone involved, including the state. The Controller can take necessary actions and incur expenses as outlined in another section of the law to ensure all parties' interests are maintained.
unclaimed property Controller authority safeguard interests
