Acquiring title for undocumented property; notice
Sec. 13. A museum may acquire title to undocumented property
held by the museum for at least seven (7) years as follows:
(1) The museum must give notice that the museum is asserting
title to the undocumented property.
(2) The notice that the museum is asserting title to the property
must include a statement containing substantially the following
information:
"The records of (name of museum) fail to indicate the owner
of record of certain property in its possession. The museum
hereby asserts title to the following property: (general
description of property). If you claim ownership or other
legal interest in this property, you must contact the museum,
establish ownership of the property, and make arrangements
to collect the property. If you fail to do so within three (3)
years, you will be considered to have waived any claim you
may have had to the property.".
(3) If a lender does not respond to the notice within three (3)
years by giving a written notice of intent to retain an interest in
the property on loan, the museum's title to the property becomes
absolute.
As added by P.L.2-2002, SEC.19.
Last modified: May 24, 2006