SECTIONS 1390-1394 - California Statutes

CODE OF CIVIL PROCEDURE

SECTION 1390-1394

1390. The Controller shall deliver to the Treasurer the proceeds of
any sale or lease of property, other than permanently escheated
property, made pursuant to this chapter; and, on order of the
Controller, the amount thereof shall be deposited in the Unclaimed
Property Fund. Such amount shall be credited by the Controller to the
account in said fund, in the name of which the property sold or
leased was held. All moneys deposited in the Unclaimed Property Fund
under the provisions of this section shall be held for the benefit of
those entitled to claim the property sold or leased; but the period
in which such moneys shall be available for claim by and payment to
the persons entitled thereto shall not extend beyond the period in
which such property is available for claim and payment under the
provisions of this title.

1391. The Controller shall deliver to the Treasurer the proceeds of
any sale or lease of permanently escheated property made pursuant to
this chapter; and, on order of the Controller, the amount thereof
shall be deposited in the General Fund. All moneys deposited in the
General Fund under the provisions of this section shall be deemed to
have permanently escheated to the state as of the date of permanent
escheat of the property from which such moneys were derived.

1392. The proceeds of any transaction by the Controller under the
provisions of this chapter in connection with property received and
held by the state under the provisions of Article 1 (commencing with
Section 1440) of Chapter 6 of this title shall be credited by the
Controller to the estate from which the property affected by the
transaction was received; or, if such property has permanently
escheated to the state, to the account in the General Fund to which
the permanently escheated cash derived from estates of deceased
persons is credited.

1393. The proceeds of any transaction by the Controller under the
provisions of this chapter, in connection with property received and
held by the state under the provisions of Article 1 (commencing with
Section 1440) of Chapter 6 of this title, for the benefit of
unlocated heirs, devisees or legatees of estates of deceased persons,
shall be credited by the Controller to such heirs, devisees or
legatees of the property affected by such transaction; or, if such
property has permanently escheated to the state, to the account in
the General Fund to which the permanently escheated cash derived from
estates of deceased persons is credited.

1394. The proceeds of any transaction by the Controller under the
provisions of this chapter in connection with property received and
held by the state under the provisions of this title, for the benefit
of the persons entitled thereto, shall be credited by the Controller
to such persons; or, if the property affected by such transaction
has permanently escheated to the state, to the account in the General
Fund in the name of which such permanently escheated property was
recorded.