... Yes, I'm suggesting that sometimes there are better solutions than those written into law (gasp! I'll get bludgeoned by the site amateurs).
Actually, LeeHB, it appears the site
amateurs are the ones who agree with you. It is the site
experts that have an issue with your position that keeping lost property without making an effort to find the true owner is a problem.
The Arizona statutes that apply to lost and found property: ARS 12-941 to ARS 12-944. To access the statutes:
http://law.onecle.com/arizona/courts-and-civil-proceedings/ch7.html (scroll down to appropriate sections).
The police in Arizona accept lost and found property and, under most circumstances, will hold it for 30 days, giving the true owner of the property time to claim it. If there is a way to identify the owner, the police will make an effort to contact the owner. If there is no way to determine the owner of the lost property and it is not claimed within 30 days, the finder of the property can return to the police station and it will be turned over to them. Again, this is under most circumstances.
If the property that is turned in is US currency, the US currency will be deposited in a general fund. If the property has a value over $150.00, a public notice will be published informing the public that the property has been found and can be claimed.