California Code of Civil Procedure

§ 1518.5

CCP § 1518.5 Effective Jan 1, 2022Title 10 · Part 3 · Ch. 7 · Art. 2

Statute text

(a)Subject to Section 1510, funds maintained in a preneed funeral trust or similar account or plan escheat to the state if, for more than three years after the funds became payable and distributable pursuant to subdivision (b), as established from the records of the funeral establishment or trustee, the beneficiary or trustor has not corresponded electronically or in writing concerning the property or otherwise indicated an interest, as evidenced by a memorandum or other record on file with the funeral establishment or trustee.

(b)For the purposes of this section, the corpus of a preneed funeral trust or similar account or plan, together with any income accrued, less a revocation fee not to exceed the amount reserved pursuant to Section 7735 of the Business and Professions Code, becomes payable and distributable under any of the following circumstances:

(1)The beneficiary of the trust attained, or would have attained if living, 105 years of age.

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Legislative history

Added by Stats. 2021, Ch. 514, Sec. 5. (AB 293) Effective January 1, 2022. Operative January 1, 2023, by its own provisions.