Has anyone ever heard of this?

It asks the account holder to state the ATM card was issued to the them and if the bank was not notified in two days of the loss the account holder may be liable for losses up to $500 and that the undersigned agrees to deliver the lost ATM card promptly to the Bank if found.

It looks upon signing it, a new ATM card is issued.

We're remodeling and have found this card in bowels of the storage area. And anyone with knowledge of where it came from has retired.

Thanks for your help. Hopefully it's not something we should have been using!!!!!