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Property & Capital Equipment

BPM-408 Personal Property Reclamation Office

Revised February 15, 1990

Personal Property Reclamation

Each campus must establish a personal property reclamation office for the purpose of facilitating the return of items of personal property found on University premises (limited to campus premises) to the true owners.

The personal property reclamation office is to be located at and administered through an appropriate University department as may be designated by the Chancellor.

Definitions

Mislaid Property

Any property which the owner has voluntarily laid down and has forgotten where it was placed.

Abandoned Property

Any property which the owner has intentionally relinquished his ownership in and cast aside.

Lost Property

Any property which the owner has involuntarily parted with through neglect, carelessness or inadvertence; that is, property which the owner has unwittingly suffered to pass out of his possession and whose whereabouts he has no knowledge of or cannot recover it by an ordinary search.

Policies for Mislaid, Abandoned and Lost Property

Mislaid Property

Any item of mislaid property found on University premises must be turned in to the campus personal property reclamation office.

Abandoned Property

Any item of abandoned property found on University premises may be turned in to the campus personal property reclamation office.

Lost Property

Any item of lost property found on University premises with a value of less than $10.00 may be turned in to the campus personal property reclamation office. Any such item with a value of more than $10.00 must be retained by the finder subject to the rights and obligations set forth in Sections 447.010, .020, .030, .040, .050, and .060 of the Revised Statutes of the State of Missouri for 1986.

Other Property

Any item of property found on University premises not identifiable as either mislaid, abandoned or lost may be turned in to the campus personal property reclamation office.

Procedures

All items of personal property turned in to the personal property reclamation office must be assigned a number and tagged, setting forth the assigned number and the date received. The item must also be listed on an inventory sheet which sets forth the number, the date received and a brief description of the property.

Any person wanting to reclaim property turned in to the personal property reclamation office must be able to describe the property and provide satisfactory evidence of ownership. If the description of the property and evidence of ownership is satisfactory, the property is to be returned to the owner who must sign a receipt for the property. The item must then be stricken from the inventory list.

Disposition of Unclaimed Property

After an item of property has been held unclaimed for at least six months, the University may either sell it at public auction or turn it over to a recognized organization of the University designated by the Chancellor for sale at public auction.

Notice of Public Auction

Notice of the public auction must be published in the newspaper in the county in which the campus is located at least 10 days before the auction. The notice must contain a description of the personal property to be sold.

Claims of Ownership Prior to Auction

At any time prior to the auction, any person claiming to be the owner of any item offered for sale may file a written notice with the University or designated organization setting forth his claim of ownership. Upon the filing of such a claim of ownership, the procedures set forth above must be followed.

Disposition of Proceeds

The proceeds from the sale of unclaimed property must be used by the University or designated organization for some worthy cause or purpose associated with the aims and endeavors of the University as approved by the Chancellor.