UCLA DA 720.03: Policy on Found and Unclaimed Property |
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Date: |
September 15, 2008
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From: | Chancellor Gene D. Block |
To: | Administrative Vice Chancellor Sam J. Morabito |
References: |
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Supersedes: | UCLA DA 720.01 (Policy on Found and Unclaimed Property) to Administrative Vice Chancellor Morabito, dated 9/25/2007. |
The care and disposition of found and unclaimed property in possession of the University is to be implemented in compliance with University policy as follows:
- Property shall be held for at least three (3) months by UCLA Police on site, or at a designated satellite center;
- Thereafter, all property, except cash or negotiable property, shall be offered for sale at public auction to the highest bidder;
- Notice of such sale shall be published at least once, five days in advance of the sale, in a newspaper of general circulation in the county where the property is held;
- Property neither bid for at a sale, nor offered for sale, and the proceeds from any sale, shall be disposed of through established University channels;
- Unclaimed cash and negotiable property may be returned to the finder after the expiration of the three-month period unless the property has been found by a University employee in the course of his or her employment.
cc: | Executive Vice Chancellor & Provost General Counsel & Vice President, Legal Affairs Universitywide Policy Coordinator Manager, Administrative Policies & Delegations |