Plain English Breakdown
Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.
Unclaimed property: digital financial assets.
AB 2335, as amended, Valencia.
What This Bill Does
- AB 2335, as amended, Valencia.
- Unclaimed property: digital financial assets.
- (1) The Unclaimed Property Law (UPL) prescribes the circumstances under which intangible property, including digital financial assets, escheats to the state, including how and when apparent owners must be notified that their property is at risk of escheating and the manner in which escheated property must be delivered to the State Controller.
- Existing law also requires that business associations holding a financial asset that is potentially subject to escheatment provide notice to the owners of that asset as specified.
Limits and Unknowns
- This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.