California Food and Agricultural Code 4702 – Upon dissolution of any such association, all of its property, after …
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Upon dissolution of any such association, all of its property, after payment of outstanding debts, shall escheat to the state.
(Enacted by Stats. 1967, Ch. 15.)
Terms Used In California Food and Agricultural Code 4702
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC