Section 50050 - Unclaimed money property of local agency; notice after three year period; victims' restitution deposited in restitution fund(a) For purposes of this article, "local agency" includes all districts. Except as otherwise provided by law, money, excluding restitution to victims, that is not the property of a local agency that remains unclaimed in its treasury or in the official custody of its officers for three years is the property of the local agency after notice if not claimed or if no verified complaint is filed and served. At any time after the expiration of the three-year period, the treasurer of the local agency may cause a notice to be published once a week for two successive weeks in a newspaper of general circulation published in the local agency. At the expiration of the three-year period, money representing restitution collected on behalf of victims shall be deposited into the Restitution Fund or used by the local agency for purposes of victim services. If a local agency elects to use the money for purposes of victim services, the local agency shall first document that it has made a reasonable effort to locate and notify the victim to whom the restitution is owed. With respect to moneys deposited with the county treasurer pursuant to Section 7663 of the Probate Code, this three-year period to claim money held by a local agency is extended for an infant or person of unsound mind until one year from the date their disability ceases.(b) For purposes of this section, "infant" and "person of unsound mind" have the same meaning as given to those terms as used in Section 1441 of the Code of Civil Procedure.(c) This section shall become operative January 1, 2022.Added by Stats 2021 ch 257 (AB 177),s 7, eff. 9/23/2021.Amended by Stats 2021 ch 257 (AB 177),s 6, eff. 9/23/2021.Amended by Stats 2013 ch 457 (AB 934),s 1, eff. 1/1/2014.