19.22 - Office's duty to lenders. - New York Statutes

§ 19.22 Office's duty to lenders. 1. When the office accepts a loan of property, it shall inform the lender in writing of the provisions of this article. The office shall also give notice to all lenders of any change in the address, status or jurisdiction of the office. 2. The office shall give a lender, at the lender's address, prompt written notice by mail of any known injury to, or loss of, property on loan or of the need to apply conservation measures pursuant to section 19.24 of this article. Such notice shall advise the lender of his right, in lieu of the application of such conservation measures, to terminate the loan and, no later than thirty days after having received such notice, either retrieve the property or arrange for its isolation and retrieval. The office shall not be required to publish notice of injury or loss to any undocumented property.