243.0 VIII-1.21 - POLICY ON LOST OR ABANDONED CURRENCY OR TANGIBLE PERSONAL 
  PROPERTY ON UNIVERSITY SYSTEM PREMISES
 
 
 
  (Approved by the Board of Regents, July 26, 1990)
 
 
  Each chief executive officer shall develop procedures for the
  accountability and safekeeping of currency and tangible personal
  property lost or abandoned on property owned, leased, operated
  by, or under the control of the institution or component in
  accordance with the following:
 
  1.    An employee shall be designated to be responsible for the
        accountability and safekeeping of the lost or abandoned
        currency and personal property.
 
  2.    Currency and property identified as abandoned or lost shall
        be held for one year during which an owner may file a claim
        to recover.
 
  3.    The individual finding the abandoned or lost currency or
        property has a priority claim which must be exercised
        within thirty days after the one year holding period
        expires;  the institution or component shall notify the
        individual that the holding period has expired and that the
        individual's claim must be exercised within thirty days.
 
  4.    Unclaimed tangible personal property may be disposed of
        after one year and thirty days.  Lost currency and proceeds
        derived from the disposal of the property, after deducting
        any costs incurred, shall be deposited in the General Fund
        of the State to the account of the institution or
        component.
 
  Replacement for:  BOR VI - 22.01