Louisiana Revised Statutes 25:380.44 – Donations and loans; disposition of property
Terms Used In Louisiana Revised Statutes 25:380.44
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- 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.
- Donor: The person who makes a gift.
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
- Inter vivos: Transfer of property from one living person to another living person.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
A. The board may individually or in cooperation with any nonprofit corporation established to support the museum and its activities solicit and accept funds, governmental grants, donations, and contributions of lands, buildings, monies, artifacts, relics, audio and video recordings, motion picture films, works of art, or other property on behalf of and as additions to the museum either in the form of loans or in the form of donations inter vivos or mortis causa, and the department may acquire them by purchase, lease, or otherwise, subject to the terms, conditions, or limitations contained in the instrument by which such property is acquired. However, the museum, through the department or a nonprofit formed to support the programs and activities of the museum, may enter into any and all contracts with any person, lender, or donor that it deems fit, proper, and necessary to accept and receive such lands, buildings, monies, artifacts, relics, audio and video recordings, motion picture films, works of art, or other property on behalf of, as additions to, or for the benefit of the museum. The museum may serve as the beneficiary of any public or private trust or insurance policy created for such purpose, pursuant to the provisions of La. Rev. Stat. 9:2341 et seq.
B. The board is granted the authority of deaccession with respect to any collection of the museum, and for such purpose is exempted from laws relative to the sale or disposal of surplus property. The board shall establish policies and procedures necessary to carry out this authority in an orderly manner.
C.(1) Any property that has been deposited with the museum by loan or otherwise, that has been held by the museum for more than ten years, and that no person has made claim shall be deemed to be abandoned and, notwithstanding the provisions of Chapter 1 of Title XII of Book III of the Civil Code, shall escheat to and become the property of the museum, if the board complies with Paragraph (2) of this Subsection.
(2)(a) For property deposited with the museum on loan, the museum shall contact the lender of the property by written notice sent by certified mail to the last known address of the lender. If the written notice by certified mail is returned for any reason, the museum shall make a reasonable and diligent effort to provide actual notice to the lender of the property by:
(i) Contacting the lender of the property by first class mail at the last known address of the lender.
(ii) At least once each week for two consecutive weeks, the board shall cause to be published in the official journal of the parish of the last known address of the lender of the property, and, if the last known address is in a parish other than Orleans, in at least one newspaper of general circulation in the parish of Orleans, a notice and listing of the property as provided in Subparagraph (c) of this Paragraph.
(b) For property held by the museum that was not deposited on loan, at least once each week for two consecutive weeks, the board shall cause to be published in at least one newspaper of general circulation in the parish of Orleans a notice and listing of the property.
(c) Notices mailed or published pursuant to this Subsection shall contain:
(i) The name and last known address, if any, of the last known owner or depositor of the property.
(ii) A description of the property.
(iii) A statement that if proof of claim is not presented by the claimant to the board and if the claimant’s right to receive such property is not established to the satisfaction of the board within sixty-five days from the date of the second published notice, the property will be deemed to be abandoned and shall become the property of the museum.
(3) If no valid claim has been made to the property within sixty-five days from the date of the second published notice, title to the property shall escheat to and vest in the museum free from all claims.
Acts 2022, No. 519, §1, eff. June 16, 2022.