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pissdoll -> CA Residents: Does the state have your money? (3/7/2007 1:27:05 PM)
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Okay, so this is nothing new. California has super quick escheat laws. If you have a bank account you don't use for a (very short) period of time or if you don't cash a payroll or utility reimbursement check, or if an insurance company has a refund check for you that you never receive, the state has the right to take your money as unclaimed property.
Oh, they'll give it back to you. But only if you file a claim for it. About twice a year at work we all start talking about it and then go to the CA State Controller's website to see if we have a windfall.
My name never ends up on the list. i guess i know where all of my money is.
If you or your family lives in CA, do yourself a favor and check the site out. The state may have raided your funds.
http://www.sco.ca.gov/col/ucp/index.shtml
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