Property on loan to museums.

Authors: Representative Casey Cox


Repeals the definition of "permanent loan" of property to a museum. Defines "unclaimed property" as property for which the museum knows the lender's name and last known address and the museum: (1) has not been contacted by the lender about the loan for a specified period; or (2) cannot determine whether the property was intended as a gift or a loan. Provides that a museum gives proper notice for purposes of asserting title to unclaimed property if the museum receives timely proof of receipt of the notice to the lender's last known address, regardless of whether the lender actually resides at the address. Defines "undocumented property" as property for which the lender's name or the lender's last known address is unknown and the property: (1) was on loan to the museum; or (2) the museum cannot determine whether the property was a gift or a loan. (Current law defines "undocumented property" as property for which the museum cannot determine the owner.) Requires a person to give written notice of intent to retain an interest in undocumented property within one year (instead of three years) after the museum publishes notice that it is asserting title to the property. Allows a museum's published notice regarding numerous items of undocumented property to make a general reference to the categories of property and the number of items within each category (instead of providing a general description of each item of property). Provides that if a museum cannot determine: (1) the owner's name and the owner's address; and (2) whether property is a gift or on loan; the property is conclusively presumed to be a gift if ownership of the property is not claimed within 90 days after the date of discovery. (Current law requires the property to be from an unknown source and that the property might reasonably be assumed to be intended as a gift.)