In order to take title pursuant to this chapter a museum shall have the following obligations to a lender:

1. The museum must keep written records regarding the property for at least two years from the date of taking title pursuant to this chapter.

2. The museum must keep written records on all loans acquired. Records shall contain the owner’s name, address and phone number, the duration of the loan period and beginning date of the loan period.

3. The museum is responsible for notifying a lender of the museum’s change of address or dissolution.

4. The museum shall inform the lender, at the time the loan is made, of state laws governing unclaimed property.