This law outlines California's policy on handling unclaimed property held by federal entities. It aims to identify such property when the owners are believed to live in California, decide through court if the state can take custody, and allows state funds to be used in this process. The state also promises to protect the federal government from any claims once the property is handed over.

This law explains what qualifies as 'unclaimed property'. Basically, it's any property or money that hasn't been claimed by its owner in certain situations. If it's related to public debt or postal savings, it needs to be unclaimed for 20 years. For anything else, it's 5 years. The term 'owner' refers to anyone who has a legal claim to this property, including their legal representatives. If it's unclear who owns how much of a property, it's assumed everyone involved has an equal share. Lastly, a 'person' here can be an individual or an entity like a company or association.

This section allows California's Controller to make deals with the U.S. government on how and when to pay for the state's share of costs related to record examinations and information reporting. These deals can include single or multiple payments spread over several years, and the Controller must follow the agreed payment schedule.

This law says that if any issues arise with property that the State of California takes custody of from the United States, California promises to take full responsibility and protect the U.S. If anyone sues the U.S. over this property, California's Attorney General will step in to help, and the State allows itself to be sued over the matter if needed. Any legal defenses the U.S. has in these cases will also be used by California.

If you have intangible property, like stocks or bonds, with an owner whose last known address is in California, and it goes unclaimed, it must be handed over to the state. If a federal agency got hold of this property in California and the owner's address isn't known, it is assumed to be a California address, specifically in Sacramento County. The same rule applies to tangible property if the federal agency acquired it in California.

The Governor has to confirm to a U.S. government official that California will pay its fair share for the costs of checking records and providing information to the federal government. This confirmation also ensures that if any property is wrongfully delivered to the state, the U.S. government won't be responsible for any claims. The Governor must make this confirmation by June 30th after any relevant federal law takes effect.

Every year on June 30th, starting after the Governor certifies, California's Controller will ask a federal official to provide any new information about unclaimed property that hasn't been reported before, as per federal rules.

This law outlines the process when the state of California receives a report about unclaimed property from the U.S. government. The state Controller must send a copy of the report to every county court clerk, who then posts it publicly for 60 days. If someone believes they have a claim to this property, they can choose to make a claim directly with the U.S. government within 90 days of the clerk's posting. They must inform the state Controller of their claim, and the Controller will hold off on any state claims until the individual's claim is resolved. Once someone makes a claim, they can't later claim against the state.

This law states that even if the time limit for starting a legal action to claim money or property has passed, the State of California can still take possession of unclaimed property according to the rules in this chapter.

This law says that within 120 days of posting a notice, the Attorney General must file a petition in the Sacramento Superior Court to determine if the state has the right to take custody of certain unclaimed property. The petition will list anyone known to have an interest in the property and also 'unknown' claimants if their identities can’t be confirmed. It should describe the property and explain why the state has a claim to it. People from different counties or with different interests can be joined in the same case.

This law outlines the process for notifying people about the state's efforts to take custody of unclaimed property held by the United States. Instead of a court summons, a notice must be published in a Sacramento County newspaper once a week for three weeks. The notice alerts potential owners, whose names (but not addresses) are listed, that the property might be theirs. Notices with the petition must also be posted at the local courthouse for 45 days. People can claim the property by responding within a certain timeframe specified in the notice. If they don’t, the state can proceed with claiming the property. The notice should also guide readers to consult a related law for more details on how to respond.

If someone wants to claim ownership of property mentioned in a legal petition, they must file a response within 15 days after getting notified. They need to pay a $10 fee with their claim. The court will remove the property from the original petition list if the claim is in order. The fee is sent to the state's Unclaimed Property Fund for processing costs. If the person isn't entitled to the property, their claim can be dismissed without affecting future claims. Once a claim is denied, it can't be brought against the state again.

If nobody claims certain property within 20 days after a deadline, the Attorney General must ask the court to declare that the property belongs to the state. This applies to property that appears to have been owned by people living in the state but remains unclaimed. The court will then order that the state take custody of the property until someone legally claims it.

This section explains that the Controller of California is responsible for asking for unclaimed property that the state is entitled to, according to a court judgment. They must include a certified copy of the judgment with their request, which should be sent to the appropriate U.S. government office designated by federal law. Additionally, the Controller must provide receipts for any property handed over or payments made.

If the state receives property under this chapter, it handles it the same way as other unclaimed property. For two years after the state gets the property, people can't make claims on it. After those two years, people can claim the property using the usual process for unclaimed property.

This law says that the money in the unclaimed property account is always available for use by the State Controller. This money can be used without worrying about the state's budget year. Specifically, it can cover costs from agreements with the U.S. and to pay back the U.S. if there are losses from property claims under state care.