New Jersey Statutes 46:30D-3. Definitions relative to unclaimed property on loan to a museum
Terms Used In New Jersey Statutes 46:30D-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
“Claimant” means an individual, association, partnership, corporation, trust, estate, or other entity, other than the lender of record, claiming or establishing title to or an interest in property that is on loan to a museum.
“Lender” means an individual, association, partnership, corporation, trust, estate, or other entity having title to or an interest in property on loan to a museum.
“Loan” means a deposit of property with a museum for a specified or unspecified period of time that does not involve a transfer of title to or interest in the property.
“Museum” means a public or private nonprofit agency or institution, and any agency or institution of the State or a political subdivision of the State, located in the State of New Jersey that:
is organized on a permanent basis;
is operated primarily for cultural, aesthetic, educational, scientific, or historic preservation purposes;
utilizes a professional staff;
owns, borrows, cares for, exhibits, studies, archives, or catalogues tangible animate or inanimate objects; and
makes them available to the public on a regular basis.
The term “museum” includes, but is not limited to: art, history, science, and natural history museums; educational institutions; historical societies; historic sites; landmarks; parks; archives; monuments; botanical gardens; arboreta; zoos; nature centers; planetaria; aquaria; libraries; and technology centers.
“Property” means tangible animate or inanimate objects.
L.2011, c.109, s.3.