Please review the New York Personal Property Law Sections 251, 252, & 253 regarding Lost or Mislaid Property that I have attached. There is a requirement in Section 252 that if the item left or found is over $20 in value to undertake specific action concerning that property within a specified time period. How do you feel about these laws. Do they place an unnecessaryburden on a proprietor of a business, or is it just good business? Many of you work, what has been your experience with compliance with this law?

Hi I hope you are well. I would tell me you opinion about this please ?

some of this discussion is hard to know which one is right

Mckinney's Personal Property Law Mckinney's Consolidated Laws of New York Annotated Currentness Personal Property Law (Refs & Annos) *@ Chapter 41. Of the Consolidated Laws (Refs & Annos) " Article 7-B. Lost and Found Property (Refs & Annos) #5 251. Definitions 1. The term "property" as used in this article means money, instruments payable, drawn or issued to bearer or to cash, goods, chattels and tangible personal property other than (a) "instruments" as defined in subdivision two of this section, (b) animals, (c) wrecks governed by the provisions of the navigation law, (d) logs and other property governed by section three hundred twenty-three of the town law and (e) vehicles governed by the vehicle and traffic law. 2. The term "instrument" as used in this article means a check, draft, promissory note, bond, bill of lading, warehouse receipt, stock certificate or other paper or document, other than those payable, drawn or issued to bearer or to cash and other than money, evidenceing, representing or embodying a chose in action or a right with respect to property or a share, participation or other interest in property or in an enterprise. 3. The term "lost property" as used in this article includes lost or mislaid property. Abandoned property, waifs and treasure trove, and other property which is found, shall be presumed to be lost property and such presumption shall be conclusive unless it is established in an action or proceeding commenced within six months after the date of the finding that the property is not lost property. 4. The term "owner" as used in this article means any person entitled to possession of the lost property as against the finder and against any other person who has made a claim. 5. The term "finder" as used in this article means the person who first takes possession of lost property. 6. "Transportation facility" as used in this article means a railroad car or coach, Pullman car, street surface railroad car, subway car, motor bus, motor coach, taxicab, aircraft or steamship, and any other vehicle or conveyance used for carriage of persons whether or not such use is in the course of a business of transporting persons. "Transportation company" as used in this article means the person carrying on a business of operating a transportation facility. A taxi driver is a "transportation company" with respect to a taxicab which he owns and operates as owner.Mckinney's Personal Property Law $ 252 Mckinney's Consolidated Laws of New York Annotated Currentness Personal Property Law (Refs & Annos) "Chapter 41. Of the Consolidated Laws (Refs & Annos) " Article 7-B. Lost and Found Property (Refs & Annos) #5 252. Found property and found instruments to be deposited with police; penalty for failure to deliver to police; delivery to persons in possession of premises where found 1. Except as provided in subdivision five of section two hundred fifty-six of this chapter or as otherwise prescribed pursuant to section two hundred fifty of the general municipal law, any person who finds lost property of the value of twenty dollars/or more or comes into possession of property of the value of (twenty dollars or more with knowledge that it is lost property or found property shall, within ten days (1 0 days after the finding or acquisition of possession thereof, either return it to the owner or report such finding or acquisition of possession and deposit such property in a police station or police headquarters of the city where the finding occurred or possession was acquired, but if the finding occurred or possession was acquired in buildings or on grounds or premises under the control and supervision of the commissioner of general services as described in article two of the public buildings law, then the property may also be deposited in a station of the capital buildings police. If the finding occurred or possession was acquired outside a city, then such property shall be deposited in a station or substation of the state police'or in a police station or police headquarters, Including a sheriff's office, of the county, town, or village where the finding occurred or possession was acquired. If the finding occurred or possession was acquired in buildings or on grounds or premises constituting a state park, parkway, recreational facility or historic site under the jurisdiction of the commissioner of parks, recreation and historic preservation, then such property may also be deposited in a station of the regional state park police. If the finding occurred or possession was acquired in buildings or on the grounds or premises of the state-operated institutions in the state university of New York, then such property may also be deposited with a security officer or police officer appointed by the state university. Property so deposited shall be retained and disposed of in accordance with procedures set forth in sections two hundred fifty-three through two hundred fifty-seven of this chapter except that the powers and duties in said sections mentioned to be performed by the police shall be performed by security officers or police officers appointed by the state university. 2. Except as provided in subdivision five of section two hundred fifty-six of this chapter or as otherwise prescribed pursuant to section two hundred fifty of the general municipal law, any person who finds an instrument or comes into possession of an instrument with knowledge that it has been found shall, within ten days after the finding or acquisition of possession thereof, either return it to a person entitled thereto or report the finding or acquisition of possession and deposit the instrument in a police station or police headquarters, as provided in subdivision one of this section, as if such instrument were lost property having a value of ten dollars 3. Except as provided in subdivision four of this section, any person who shall refuse or wilfully neglect to comply with the provisions of subdivision one or subdivision two of this section shall be guilty of a misdemeanor and upon conviction thereof shall be punished by a fine of not more than one hundred dollars or imprisonment not exceeding six months or both: 4. A person shall not be subject to criminal prosecution for failure to report a finding or acquisition of possession of found property or of a found instrument to the police and deposit such property or instrument with the police if, in lieu thereof, he delivers the property or instrument to the person in possession of the premises where the property or instrument was found, provided he had no reason to believe that such person would not comply with subdivision one or subdivision two of this section. A person who delivers found property or a found instrument to the person in possession of the premises where the property or instrument was found is not liable to the owner or person entitled thereto for such delivery if he had no reason to believe that such person in possession of the premises would not comply with subdivision one or subdivision two of this section.Mckinney's Personal Property Law $ 253 Mckinney's Consolidated Laws of New York Annotated Currentness Personal Property Law (Refs & Annos) "@ Chapter 41. Of the Consolidated Laws (Refs & Annos) Article 7-B. Lost and Found Property (Refs & Annos) #$ 253. Duties of police 1. Unless otherwise prescribed in accordance with section two hundred fifty of the general municipal law or section two hundred twenty-five-a of the executive law and unless otherwise provided by law applicable specifically to matters prescribed in this section, the police with whom found property or a ound instrument is deposited shall accept and retain custody of the property or instrument, or proceeds of the property in the event of a sale pursuant to subdivision five of this section, and shall give notice of such custody, as provided in this section. The police with whom found property or a found instrument is deposited as provided in this article shall give to the person depositing it a receipt identifying the transaction of deposit and identifying the property or instrument. Such identification may be by description and recital of the facts of the transaction or by reference numbers, duplicate copies of records, or other method connecting the receipt with the records of the police with respect to the property or instrument and the transaction. 2. Such property or instrument shall be transmitted, together with the report of the person who deposited it with the police, to the police officer or other official designated to hold such property or instrument, who shall make entry in his records of such deposit and the report of the person depositing such property or instrument with the police. 3. If the report of the person who deposited the property or Instrument shows that the property or instrument was found in a place other than a public street or highway, the police with whom It is deposited shall give notice of the finding and deposit, Including the location of the office to which the property or instrument is transmitted, to the occupant of the premises where the property or instrument was found or to the person in charge of such premises. The police with whom an instrument is deposited shall give notice of the deposit to each person whose name and address appears upon the instrument or whose name so appears and whose address is known to the police. 4. If at any time the police have reason to believe that a person has an interest in found property or in a found instrument in their possession and reason to know his whereabouts, they shall give notice of the finding and deposit and the location of the office to which the property or instrument is transmitted to such person. 5. (a) Property having salvage value only may be sold by the police in such manner as may be reasonable in the circumstances. Perishable property shall be sold by the police as soon as possible in such manner as may be reasonable in the circumstances. (b) Property which requires special care may be kept by the police in public or private facilities which the police deem appropriate for the purpose of preserving it. (c) Any property may be sold by the police at public auction when the expenses reasonably incurred in dealing with it, including expenses of taking of custody, transportation, storage and appraisal, any special expense incurred in giving notice, and any other special expense attributable to administration of this article with respect to the particular property, amount to more than one-half the amount reasonably estimated as the net sum likely to be realized by sale at public auction. (d) If property is sold as provided in this subdivision the proceeds remaining after deducting the amount of reasonable expenses of the sale and reasonable expenses of dealing with the property prior to the sale, including any items of expense mentioned in paragraph (c), shall be dealt with as lost property having the value of the property sold. 6. Subject to subdivision three of section two hundred fifty-six of this chapter and to section thirteenhundred ten or other applicable section of the abandoned property law, instruments shall be retained in the custody of the police with whom they were deposited until delivered to the person entitled thereto as provided in section two hundred fifty-five of this chapter. 7. Except as provided in subdivision three of section two hundred fifty-six of this chapter, lost property, and the proceeds of sale pursuant to subdivision five of this section remaining after deduction of expenses as provided in that subdivision, shall be kept in the custody of the police for the following periods, unless sooner delivered to the owner as provided in section two hundred fifty-four: Property having a value of less than one hundred dollars or proceeds of property having such value, three months; property having a value of one hundred dollars or more but less than five hundred dollars or proceeds of property having such value, six months; property having a value of five hundred dollars or more but less than five thousand dollars or proceeds of property having such value, one year; property having a value of five thousand dollars or more or proceeds of property having such value, three years. 8. Three months before the expiration of the period applicable to the property in question, as specified in subdivision seven of this section, if the property has not been delivered to the owner as provided in section two hundred fifty-four, the police shall give notice to the owner, if known, and to any person they have reason to believe has an interest in the property, if the address or a former address of such owner or person is known, and to all persons who have made claim to the property, and to the finder and any person who has filed notice asserting the right of the finder as provided in section two hundred fifty-six. Such notice shall be in writing and shall be served personally or sent by certified mail to the last known address of the person to whom it is sent and shall state, in substance: (a) that if within three months after the date of personal service or mailing of the notice the owner does not claim the property, and if at the end of such three months no action is pending to determine rights to such property, written notice of which action was served upon the police having custody of the property, the property will be delivered to the finder or, if he establish his right, to a person entitled to assert the right of the finder as provided in section two hundred fifty-six; and (b) that if at the expiration of three months and ten days after the date of the personal service or mailing of the notice, the owner has not claimed the property and the finder, or a person entitled to assert the right of the finder as provided in section two hundred fifty-six, has not demanded delivery of it, and no action is pending to determine rights to such property, notice of which was served upon the police having custody of the property, it will be sold at public auction; and (c) in the case of property in the custody of the state police, that the proceeds of the sale will be deposited in the abandoned property fund of the state and in the case of property in the custody of other police that the proceeds will become the property of the city, county, town or village