CA AB1447

Modifies requirements for the State Controller to mail notices about unclaimed property valued at $50 or more, specifying that notices only need to be sent when the address on file is a "valid deliverable address"

Requires the Controller to mail notices to a corrected valid deliverable address if the original address in the report is invalid but the Controller identifies a corrected one

Maintains existing process where the Controller requests current addresses from the Franchise Tax Board using social security numbers when available

Applies to property that has escheated (transferred) to the state under the Unclaimed Property Law, with notices required within 165 days after property reports are filed