In order to take title pursuant to the Museum Property Act, a museum has the following obligations to a lender or claimant:

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(1) The museum shall retain all written records regarding the property for at least twenty-five years after the date of taking title pursuant to the act;

(2) The museum shall keep written records on all loaned property acquired pursuant to section 51-704. Records shall contain the following information:

(a) The lender’s name, address, and telephone number;

(b) The claimant’s name, address, and telephone number;

(c) The nature and terms of the loan; and

(d) The beginning date of the loan period, if known; and

(3) The museum is responsible for notifying a lender or claimant of the museum’s change of address or dissolution.