California Code of Regulations
Title 2 - Administration
Division 2 - Financial Operations
Chapter 2 - State Controller
Subchapter 8 - Unclaimed Property Law
Article 4.5 - Reporting and Delivering Property that Escheats Pursuant to Code of Civil Procedure Section 1516(b)
Section 1172.20 - Delivery Dates

Universal Citation: 2 CA Code of Regs 1172.20

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(a) Securities Remitted in Certificate Form

(1) The holder of any intangible interest as evidenced by the stock records or membership records of the business association shall deliver a duplicate certificate to the State Controller's Office, Unclaimed Property Division. The duplicate certificate shall be registered in the name of the: State Controller, State of California. The duplicate certificate replaces the original certificate issued to the original shareholder or member.

(2) For those certificates that can be transferred into the name of the State Controller, State of California, the delivery date is the date the certificate is registered in the name of the State Controller, State of California.

(3) Unless as defined in (b) below, certificates are not delivered unless registered in the name of the State Controller. The delivery date is the date the certificate is registered in the name of the State Controller, State of California.

(b) Securities Not Remitted in Certificate Form and Foreign Securities

(1) Where the holder remits securities in uncertificated form, the delivery date is the date the asset is credited to the account number of the State Controller, State of California maintained by a broker contracting with the State Controller's Office.

(2) The holder must obtain written permission from the State Controller's Office, Unclaimed Property Division, prior to remitting with the method in § 1172.20(b)(1), above.

(c) Open-end Mutual Funds

For open-end mutual fund securities, the delivery date is the date the asset is credited to the account number of the State Controller, State of California maintained by a broker contracting with the State Controller's Office.

(d) Certificates That Cannot Be Remitted In The Name Of the State Controller, State of California

For those securities where title cannot be transferred into the name of the State Controller, State of California, but a duplicate certificate is obtained, the delivery date is the postmark date the securities were mailed to the State Controller's Office.

1. New article 4.5 (sections 1172.20-1172.80) and section filed 12-31-97; operative 1-30-98 (Register 98, No. 1).
2. Change without regulatory effect amending subsections (a)-(a)(1), (b)-(b)(2) and (c) filed 7-15-2011 pursuant to section 100, title 1, California Code of Regulations (Register 2011, No. 28).

Note: Authority cited: Section 1580, Code of Civil Procedure. Reference: Sections 1516 and 1530, Code of Civil Procedure.

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