Any person delivering money or other property to the Treasurer or Controller under the provisions of this title shall, upon such delivery, be relieved and held harmless by the State from all or any claim or claims which exist at that time with reference to such money or other property, or which may thereafter be made, or which may come into existence, on account of, or in respect to, such money or other property.
No action shall be maintained against any person who is the holder of such money or other property, nor against any officer as agent thereof, for:
(a)
The recovery of such money or other property delivered to the Treasurer or Controller pursuant to this title, or for interest thereon subsequent to the date of the report thereof, if any, to the Controller; or
(b)
Damages alleged to have resulted from such delivery to the Treasurer or Controller.
No owner of money or other property shall be entitled to receive interest thereon or with respect thereto from and after the date on which a report of such money or other property is made to the Controller pursuant to any provision of this title, whether or not he was entitled to such interest prior to such report.
As used in this section, “person” and “holder” have the respective meanings set forth in Section 1461 of this code.