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CA SB1405

Bill

Official Source

Status

Introduced

2/20/2026

Primary Sponsor

Lola Smallwood-Cuevas

Click for details

Origin

Senate

2025-2026 Regular Session

AI Summary

  • Amends Section 1521 of the Code of Civil Procedure regarding unclaimed employee benefit plan distributions that escheat to the state after 3 years of owner inactivity
  • Reorganizes existing statutory definitions of "fiduciary" and "administrator" into a separate subdivision (d) rather than embedding them within subdivision (a)
  • Makes nonsubstantive, technical formatting changes only with no alteration to the underlying legal requirements or timelines
  • Requires no appropriation, has no fiscal impact, and needs only a majority vote for passage
  • Introduced by Senator Smallwood-Cuevas on February 20, 2026

Legislative Description

Unclaimed personal property: employee benefit plan distributions.

Last Action

Referred to Com. on RLS.

3/4/2026

Committee Referrals

Rules2/20/2026

Full Bill Text

No bill text available