The Controller may reject any and all bids made at sales or public auctions held under the provisions of this chapter.
§ 1374.Authority of Controller to Reject Bids
Title 10. Unclaimed Property · Chapter 4. Management of Unclaimed Property · Article 3. Sale or Disposal of Property · Enacted 1708 · no amendments on record · Last verified July 29, 2026
In one sentenceSection 1374 gives the Controller authority to reject any or all bids submitted at a sale or public auction held under this chapter.
Full Text of § 1374
Plain-English Summary
A public auction under Section 1373 doesn't force the Controller to accept whatever the bidding produces. Section 1374 lets the Controller reject any and all bids made at sales or public auctions held under this chapter's provisions, full stop.
That authority protects the state, and ultimately the eventual claimant, from being locked into a sale price that undersells the property. If the bidding at an auction comes in low, perhaps because of poor turnout or an off day for interested buyers, the Controller isn't obligated to close the deal anyway. Rejecting the bids leaves the Controller free to try again later, or to pursue a private sale of real property instead under Section 1375.
Frequently Asked Questions
Must the Controller accept the highest bid at a public auction?
No. Section 1374 lets the Controller reject any and all bids made at a sale or public auction under this chapter.
What happens if the Controller rejects the bids at an auction?
The section doesn't dictate a next step, leaving the Controller free to hold another auction later or pursue a different disposal method, such as a private sale of real property under Section 1375.
Why would the Controller want the power to reject bids?
To avoid being bound to accept an inadequate price when bidding at a particular auction turns out weaker than expected.
Amendment History
Added by Stats. 1951, Ch. 1708.
Source & verification. Section text is reproduced verbatim from
the Deering's California Codes Annotated / vLex. Enacted by the California Legislature.
Last verified July 29, 2026.
· Official source
Also known as: controller rejects auction bids californiaauthority to refuse unclaimed property bids