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 1172.80 - Security Valuation

(a) Securities listed on an established stock exchange will be valued, for the purpose of calculating interest, at the opening bid quote on the interest assessment date of the reporting year the property was due.

(b) Over-the-counter securities will be valued by the latest published quotation within two weeks preceding interest assessment date. If no quotation precedes the interest assessment date, the closest quotation subsequent to that date, but again within two weeks of that date, will be used. If there is no published quotation within that time frame, the stock will be valued as a privately held stock.

(c) Privately-Held securities will be valued using the Internal Revenue Service Revenue Ruling 59-60 (1959), hereby incorporated by reference.

(d) There will be no assessment for securities for which the State Controller's Office is unable to obtain a value or estimated value.