SYN. NO. AGN. NO.
MOTION BY SUPERVISOR MICHAEL D. ANTONOVICH SEPTEMBER 26, 2000

UNCLAIMED STATE PROPERTY
The State of California is currently holding more than $2.6 billion in unclaimed property value belonging to approximately 5.2 million individuals and organizations. This property is mostly money left inactive or dormant by the owner for more than three years.

California's Unclaimed Property Law requires corporations, business associations, financial institutions and insurance companies to annually report and deliver property to the State of California Controller's Office after there has been no customer contact for over three years. All holders of unclaimed property are required by law to attempt contacting the owners before reporting the property to the State.
The Bureau of Unclaimed Property receives reports throughout the year, and accounts are posted to the Internet weekly on the Controller's Unclaimed Property Bulletin Board. There were 207 claims due to Los Angeles County, 45 were greater than $500.
I, THEREFORE, MOVE that the Board of Supervisors direct the Chief Administrative Officer to monitor the State of California Controller's Office Unclaimed Property Bulletin Board frequently, to identify and claim any and all unclaimed 'Los Angeles County' properties available to be deposited in the Los Angeles County coffers.

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