Cal. Code Regs. tit. 22, § 50407 – Conversion of Property--Treatment.

(a) Conversion of property in itself from one form to another has no effect on eligibility; however, the property obtained through a conversion may have an effect on eligibility and therefore shall be evaluated to determine its effect.
(b) Insurance or other third-party payments for the loss or damage of property shall be treated as converted property rather than income.

Note: Authority cited: Sections 10725 and 14124.5, Welfare and Institutions Code. Reference: Sections 14006 and 14015, Welfare and Institutions Code.

1. Change without regulatory effect adding Note filed 10-11-88 (Register 88, No. 45).