Illinois Compiled Statutes 765 ILCS 1033/45 – Obligations
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(a) Obligations of a museum.
(1) A museum holding loaned property on or after the
(1) A museum holding loaned property on or after the
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effective date of this Act shall notify the lender, if known, by mail, of the provisions of this Act within the term of the loan but not more than 5 years after the effective date of this Act. A museum accepting a loan of property on or after the effective date of this Act shall inform the lender in writing at the time of the loan of the provisions of this Act. A copy of this Act or a citation to the provisions of this Act within the loan agreement shall fulfill this obligation.
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(2) A museum is responsible for notifying a lender or
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claimant of the museum’s change of address or dissolution.
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(3) A museum shall retain all written records
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regarding property acquired under this Act for at least 10 years or until the dissolution of the museum, whichever occurs earlier.
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(b) Obligations of a lender or claimant.
(1) A lender, a lender’s heir or legal agent, or a
Terms Used In Illinois Compiled Statutes 765 ILCS 1033/45
- Inter vivos: Transfer of property from one living person to another living person.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(1) A lender, a lender’s heir or legal agent, or a
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claimant is responsible for notifying the museum promptly, in writing, if there is any change in ownership of the objects (whether through inter vivos transfer or death) or if there is a change in the identity or address of the lender.
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(2) A lender or claimant may file with the museum a
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written notice of interest in the property. A notice of interest in the property shall:
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(A) contain an adequate description of the
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property to enable the museum to identify the property;
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(B) be accompanied by documentation sufficient to
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establish the lender or claimant as the owner of the property; and
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(C) be signed under penalty of perjury by the
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lender or claimant, or by a person authorized to act on behalf of the lender or claimant.
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The filing of a notice of interest in the property on
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loan to a museum does not validate or make enforceable any claim which would be extinguished under the terms of a written agreement, or which would otherwise be invalid or unenforceable.
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