(a) Unless there is a written loan agreement to the contrary, a museum may apply conservation measures to or dispose of property on loan to the museum without a lender’s permission if immediate action is required to protect the property on loan or to protect other property in the custody of the museum, or the property on loan has become a hazard to the health and safety of the public or of the museum’s staff, and:
(1) the museum cannot reach the lender at the lender’s last address of record so that the museum and the lender can promptly agree on a solution; or
(2) the lender will not agree to the protective measures the museum recommends, yet is unwilling or unable to terminate the loan and retrieve the property.
(b) If a museum applies conservation measures to or disposes of property under Subsection (a), the museum:
(1) has a lien on the property and on the proceeds from any disposition of the property for the costs incurred by the museum; and
(2) is not liable for injury to or loss of the property if the museum:
(A) had a reasonable belief at the time the action was taken that the action was necessary to protect the property on loan or other property in the custody of the museum, or that the property on loan constituted a hazard to the health and safety of the public or the museum’s staff; and
(B) exercised reasonable care in the choice and application of the conservation measures.