§ 13-5-1006 - Duties of museum concerning a loan. - Arkansas Statutes

13-5-1006. Duties of museum concerning a loan.

(a) At the time of a loan to a museum, the museum shall:

(1) Make and retain a written record of the following:

(A) The lender's name, address, and telephone number;

(B) A description of the loan;

(C) The date of the loan; and

(D) The expiration date of the loan; and

(2) Provide the lender with a signed receipt or copy of the loan agreement containing the information set out in subdivision (a)(1) of this section.

(b) The museum's general duties with respect to a loan include:

(1) Updating museum records whenever:

(A) A lender informs the museum of a change of address or change in the ownership of the loan; and

(B) The lender and museum negotiate a change in the terms of the loan;

(2) Providing the lender with notice about any update concerning the lender's loan; and

(3) Providing copies of 13-5-1004, 13-5-1007, and 13-5-1009:

(A) To each lender who made a loan to the museum before the effective date of this subchapter and that loan is in the custody of the museum;

(B) To the lender at the time of the loan; and

(C) Upon a lender's request.