Are cell phone companies obligated to reject activation of lost/found phones?

Are cell phone companies legally obligated to reject the activation of a lost & found cell phone? For example, if someone finds a spiffy cell somewhere and was mean enough not to return it, would the cell company care if it was activated under a new name/account? I lost my cell once and it was never returned. Just curious.

Answers:
Usually lost or stolen Cell phones get unlocked by hackers easily and they can be used as an unlocked phone with any network provider. I think the cost of hacking and unlocking a cell phone is around 10 dollars..


No, they aren't required legally to safeguard your property. You are. They don't know who's traded phones, sold them, or given them away. The phone is irrelevant; the SIM card is where your account is. That they should be responsible for.
They are not, most people end up deactivating the lost phone simpy because they don't trust people and don't want their bill run up. Me and my friends have lost countless phones and not one has been returned, they were nice phones too.

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