ARTICLE 3. Escheated Property [12540 - 12544]
( Article 3 added by Stats. 1945, Ch. 111. )
The Attorney General shall institute investigations for the discovery of all real and personal property to which the state may be entitled by escheat. For that purpose the Attorney General may cite any person before any superior court of this state to answer investigations and render accounts concerning that property, and the Attorney General may examine all books and papers of any corporation.
(Amended by Stats. 2021, Ch. 50, Sec. 101. (AB 378) Effective January 1, 2022.)
The Attorney General shall commence and prosecute actions on behalf of the State pursuant to Title 10, Part 3, of the Code of Civil Procedure, for the purpose of having it adjudged that title to real or personal property, to which the State has become entitled by escheat, is vested in the State.
(Amended by Stats. 1959, Ch. 597.)
The Attorney General may employ counsel to act in the Attorney General’s place and stead for the investigation for discovery and the recovery of any such property. In those proceedings counsel so employed have the authority of the Attorney General.
(Amended by Stats. 2021, Ch. 50, Sec. 102. (AB 378) Effective January 1, 2022.)
The compensation for services of such counsel shall be determined by the Department of General Services and paid only out of the sums found to be escheated and recovered to the state. The Attorney General may pay to such counsel a sum not in excess of 10 percent of the sums actually received, and the balance shall be paid into the estates of Deceased Persons Fund.
(Amended by Stats. 1965, Ch. 371.)
If an escheat proceeding is prosecuted by the staff of the Attorney General’s office, the Attorney General shall recover, by presenting a claim to the Controller, all costs and charges of commencing and prosecuting the suit, from the funds so escheated. Those claims shall be paid from the Abandoned Property Account in the Unclaimed Property Fund and credited to and in augmentation of any support appropriation of the Attorney General. The costs and charges may not in any case exceed 10 per cent of the sum or sums actually escheated to the State in those
suits.
(Amended by Stats. 2000, Ch. 626, Sec. 3. Effective January 1, 2001.)