184.118. Title to property museum's obligation to lender or claimant--records to be retained, time period, content. - Missouri Statutes

Title to property museum's obligation to lender or claimant--recordsto be retained, time period, content.

184.118. In order to take title pursuant to sections184.101 to 184.122, a museum has the following obligations to alender or claimant:

(1) The museum shall retain all written records regardingthe property for at least three years from the date of takingtitle pursuant to sections 184.101 to 184.122;

(2) The museum shall keep written records of all loanedproperty acquired pursuant to section 184.111 or 184.112.Records maintained under this subsection shall contain thefollowing information, as available:

(a) The lender's name, address, and phone number;

(b) The claimant's name, address, and phone number;

(c) The nature and terms of the loan;

(d) The beginning date of the loan period, if known;

(3) On or after December 31, 1991, a museum accepting aloan of property for an indefinite term or for a term of sevenyears or longer shall inform the lender in writing at the time ofthe loan of the provisions of sections 184.101 to 184.122. Acopy of the form notice prescribed in section 184.114 or acitation to the provisions of sections 184.101 to 184.122 shallfulfill this obligation;

(4) The museum is responsible for notifying a lender orclaimant of the museum's change of address or dissolution.

(L. 1991 S.B. 344 § 10)