Property: nonprobate transfer of ownership.

The bill no longer adds a separate Section 5510.5 to the Probate Code for nonprofit and charitable beneficiaries. All provisions are now consolidated into amendments to Section 5507 only.

Replaced the single effective date (January 1, 2027) with a phased approach: provisions apply to nonprofit/charitable beneficiaries starting January 1, 2027, and to all other beneficiaries starting January 1, 2028, in each case only if the death of the final owner occurs on or after that date.

Extended the deadline for a registering entity to provide written notice of noncompliance to a beneficiary from 30 days to 60 days.

Added new grounds for a registering entity to delay transfer to a beneficiary: (B) written notice of a pending court petition disputing the security, (C) written notice from a claimant objecting to the registration in beneficiary form under Section 5508, (D) written notice from a claimant asserting an adverse claim (capped at 30 days), and (E) co-beneficiaries sharing an indivisible asset where one has directed not to liquidate pending dispute resolution.

Changed the definition of a 'reasonable and good-faith effort' to notify beneficiaries from permissive language ('may include') to mandatory language ('shall be satisfied by'), making it a requirement rather than an example.

Modified the proof-of-death documentation requirement for charitable beneficiaries: they no longer need to provide a death certificate if the registering entity has already received information establishing knowledge of death under subdivision (b), except that an unverified Death Master File match does not count.

The document was reformatted from the official enrolled bill layout (with page numbers, passage stamps, and Governor receipt line) to a web page rendering that includes site navigation, search tools, and sidebar links. No changes to the actual statutory text, effective dates, or policy provisions were made.

Entire Code of Civil Procedure Section 1513.6 was deleted. This section had allowed nonprofit corporations, charitable trusts, and tax-exempt entities to file claims under the Unclaimed Property Law, required the Controller to revise forms and systems, and set a July 1, 2027 deadline for implementing regulations. The bill now only amends the Probate Code.

Section 5507(b) was expanded to list specific documents that trigger the beneficiary notification process: certified informational copy of a death certificate, Consular Report of Death Abroad, presumption of death order, Death Master File match, or other information in the entity's records indicating the owner has died. The list of who can provide notice was also broadened to include beneficiaries and personal representatives.

Section 5510.5(d)(2) now explicitly enumerates categories of personal information that a registering entity cannot request from individuals employed by or serving on the board of a nonprofit beneficiary, including social security number, driver's license number, date of birth, passport, home address, annual income, marital status, number of dependents, spouse's maiden name, and other personal financial information.

Section 5510.5(d)(3) adds an exception allowing a registering entity to request government-issued photo ID when an individual appears in person to claim property, for the sole purpose of verifying identity and authority to act on behalf of the charitable organization. No ID is required for claims submitted by mail or electronic means.

Section 5510.5(g) adds explicit language that a security may be disbursed through check, fund transfer, or another method that does not require the beneficiary to open an account or become a customer of the registering entity.

Section 5510.5(i) now requires that a beneficiary who has provided all required documentation receive their designated share within 60 days of completing the registering entity's process, rather than simply 'upon completing' it as in the Senate version.

New Section 5510.5(m) provides that the section does not apply when the death of all owners of a security occurred before January 1, 2027, establishing a clear effective date cutoff.

New Section 5510.5(j) and (k) create a compliance exception: if complying with the section would cause a violation of federal or state law (including self-regulatory organization rules under the Securities Exchange Act), the registering entity is excused but must notify the beneficiary in writing within 30 days, citing the specific statute or regulation and providing a plain-language description of what is required.

Section 5507(b) now allows proof of death to be provided through a certified informational copy of a death certificate, in addition to the previously listed documents, and adds 'a credible source' as an additional party who can provide notification of death to the registering entity.

Section 5507(f) and (g) expand the language from 'disbursement' alone to 'disbursement, transfer,' broadening the streamlining requirements and legal impediment protections to cover transfers of securities, not just disbursements.

Section 5510.5(b) changes 'may not require any individual associated with the beneficiary entity to provide personal identifying information' to 'shall not require,' making the prohibition mandatory rather than permissive.

Section 5510.5(e) changes 'the registering entity may not require an entity described in subdivision (a) to provide information about a decedent owner' to 'shall not require,' strengthening the restriction on what information can be demanded from nonprofit and charitable beneficiaries.

Section 5510.5(f) significantly expands liability protection for registering entities: it now covers entities that 'disburse assets, originate or transfer securities' (not just disburse), adds that the entity is 'discharged from all claims to the security by the estate, creditors, heirs, or devisees of a deceased owner,' and references Section 5508 for applicable requirements.

Section numbering was reorganized: the former SEC. 2 (amending Probate Code 5507) is now labeled SECTION 1, and the former SEC. 3 (adding Section 5510.5) is now SEC. 2.