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 1172.40 - Interest Assessment

Pursuant to Code of Civil Procedure section 1577, the State Controller's Office will assess interest against a person who fails to report or pay or deliver, within the time prescribed by the Unclaimed Property Laws, Code of Civil Procedure, Section 1500 et. seq., property that escheats to the state pursuant to Code of Civil Procedure section 1516(b).

1. New section filed 12-31-97; operative 1-30-98 (Register 98, No. 1).

Note: Authority cited: Section 1580, Code of Civil Procedure. Reference: Sections 1516 and 1577, Code of Civil Procedure.