§ 250. Lost and found property. The governing boards of municipal\ncorporations may by resolution enact rules and regulations for\nadministering the provisions of article seven-b of the personal property\nlaw and may provide the following:\n (a) the designation of a public officer to accept and keep custody of\nfound property and found instruments;\n (b) procedures for determining the value and for estimating the net\nsum likely to be realized by sale at public auction of lost property as\ndefined in article seven-b of the personal property law;\n (c) a procedure for the disposition of derelict automobiles and other\nproperty having no value or salvage value only;\n (d) longer or shorter periods of time for the report and deposit of\nfound property and instruments by specified classes of persons having\npossession thereof or for either such report or such deposit, provided,\nhowever, that such rules and regulations so enacted by a county or town\nshall not supersede rules and regulations with respect to time for\nreport and deposit, or for either report or deposit, so enacted by any\nmunicipal corporation within its limits, except to such extent as may be\nprovided by an agreement pursuant to section two hundred fifty-one of\nthis chapter;\n (e) provisions for notices, reports, storage, and sales of found\nproperty not inconsistent with the provisions of article seven-b of the\npersonal property law;\n (f) the payment of proceeds from the sale of lost property as defined\nin article seven-b of the personal property law into a public fund other\nthan the treasury of the municipal corporation.\n
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