58-4005. Loaned property; acquisition of title. - Kansas Statutes

58-4005

Chapter 58.--PERSONAL AND REAL PROPERTY Part 6.--MISCELLANEOUS PROVISIONS Article 40.--MUSEUM PROPERTY

      58-4005.   Loaned property;acquisition of title.(a) A museum may acquire title to loaned property pursuant tothis section. A museum may give notice of termination of a loan of propertyat any time if either of the following apply:

      (1)   The property was loaned to the museum for an indefinite term; or

      (2)   the property was loaned to the museum for a specified term, and thatterm has expired.

      (b)   If the lender or claimant does not respond to the notice oftermination provided under subsection (a) within 90 days by filing a noticeof intent to preserve an interest in property on loan, the museum acquirestitle to the property.

      (c)   A notice of intent to terminate a loan must include a statementcontaining substantially the following information:

      "The records of (name of museum) indicate that you have property on loanto it. The institution wishes to terminate the loan. You must contact theinstitution, establish your ownership of the property pursuant to K.S.A.58-4007 and make arrangements to collect the property. If you failto do sopromptly, you will be considered to have donated the property to theinstitution."

      History:   L. 1989, ch. 120, § 5; July 1.