No hotel or motel keeper shall be liable in any sum exceeding the sum of two hundred and fifty dollars for the loss of or damage to property of a guest delivered to such keeper, his agent or employee, for transport to or from the hotel or motel, unless at the time of delivering the same such value in excess of two hundred and fifty dollars shall be stated by such guest and a written receipt stating such value shall be issued by such keeper; provided, however, that where such written receipt is issued the keeper shall not be liable beyond five hundred dollars unless it shall appear that such loss or damage occurred through his fault or negligence.
New York Legal Code