Any person who finds lost property, as defined by Article 7-B of the
Personal Property Law, shall within 10 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 the police station
of the Village of Penn Yan where the finding occurred or possession was acquired.
The police with whom found property is deposited shall accept and retain
custody of the property and shall give to the person depositing it a receipt
identifying the transaction of the deposit and identifying the property.
Such property 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, who shall make entry in his records of such
deposit and the report of the person depositing such property with the police.
Proceeds of the sale shall be disposed of pursuant to the provisions
of the Personal Property Law and the General Municipal Law, and any unclaimed
funds after six months shall be deposited in the general fund of the Village
of Penn Yan, New York.