California Financial Code

§ 684

FIN § 684 Effective Jan 1, 2012Div. 1 · Ch. 7 · Art. 4

Statute text

Dividends remaining unpaid and any sums available for payment of shares or deposits for which no claim was filed, which remain in the hands of the commissioner six months after the order for the payment of a final dividend, shall be deposited in the State Treasury. The shares or deposits shall be deemed to have been received under Chapter 7 (commencing with Section 1500) of Title 10 of Part 3 of the Code of Civil Procedure, and shall be subject to claim or other disposition as provided in that chapter. The commissioner may pay over the moneys held by him or her to the persons respectively entitled thereto at any time prior to depositing the shares or deposits in the State Treasury, upon being furnished satisfactory evidence of the persons’ right to the same.

Legislative history

Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.