§ 1314.Account In Fund Covering Accountability For Money Deposited In Fund

A single fund holding money from many different sources needs internal bookkeeping, and this section supplies it. The Controller has to maintain a separate account inside the Unclaimed Property Fund for the money deposited under each article of Chapter 6 -- the chapter that spells out disposition rules for different categories of unclaimed property.

Non-cash property gets tracked the same way, even though it is not itself cash sitting in an account. Real and personal property distributed to or delivered into the state's possession is accounted for by the Controller in the name of whichever account would receive the proceeds if that property were converted into cash. And once such property reaches the State Treasury, the Treasurer holds it under that same account name the Controller has assigned. The result is a system where every deposit, whether cash or property, has a clear paper trail back to a specific category of claimant.