22-3-506. Notice of intent to preserve interest.

     22-3-506. Notice of intent to preserve interest. (1) The owner of property on loan to a museum may file with the museum a notice of intent to preserve an interest in the property. This notice must be in writing and must contain a description of the property adequate to enable the museum to identify the property.
     (2) The filing of a notice of intent to preserve an interest in property on loan to a museum does not validate or make enforceable any claim that would be extinguished under the terms of a written loan agreement or that would otherwise be invalid or unenforceable.
     (3) (a) Unless the loaned property is returned to the claimant, the museum shall retain for not less than 25 years the original or an accurate copy of any notice filed by a claimant under this section.
     (b) The fact that the museum retains a notice may not be construed to mean that the notice is sufficient or accurate or that it is effective to preserve an interest in property on loan to the museum.
     (4) A notice of intent to preserve an interest in property on loan to a museum satisfies the requirements of subsection (1) if it is in substantially the following form and contains the information and attachments described:

NOTICE TO PRESERVE AN INTEREST IN PROPERTY

ON LOAN TO A MUSEUM

Name of Museum........ Date.................... Claimant's Name........ Address........

(street address; city; state; zip code)

Telephone........ Date Property Loaned........ Description of Property........ ........ ........

Documentation of ownership -- check the appropriate box:

[] Legible copy of original loan receipt attached

[] Other documentation attached

     If you are not the original lender, describe the origin of your interest in the property and attach a copy of any document that creates your interest:
     ........ ........ ........
     I understand that I must promptly notify the museum in writing of any change of address or change in ownership of the loaned property.
     I declare under penalty of false swearing that to the best of my knowledge the information contained in this notice is true.
     SIGNED........

(claimant)

OR I declare under penalty of false swearing that I am authorized to act on behalf of the claimant and am informed and believe that the information contained in this notice is true.
SIGNED........

(claimant's representative)

History: En. Sec. 6, Ch. 630, L. 1985.