1. The lender or claimant of property on loan to a museum shall notify the museum of a change of address or change in ownership of the property. Failure to notify the museum of these changes may result in the lender’s or claimant’s loss of rights in the property.
Terms Used In Iowa Code 305B.12
- Claimant: means a person who files a notice of intent to preserve an interest in property on loan to a museum as provided in section 305B. See Iowa Code 305B.2
- Lender: means a person whose name appears on the records of the museum as the person legally entitled to property held or owing by the museum. See Iowa Code 305B.2
- Loan: means a deposit of property not accompanied by a transfer of title to the property. See Iowa Code 305B.2
- Museum: includes , but is not limited to, historical societies, historic sites or landmarks, parks, monuments, and libraries. See Iowa Code 305B.2
- Property: means a tangible object, animate or inanimate, under a museum's care which has intrinsic historic, artistic, scientific, or cultural value. See Iowa Code 305B.2
2. The lender or claimant of property on loan to a museum may file with the museum a notice of intent to preserve an interest in the property as provided for in section 305B.8. 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 which would be extinguished under the terms of a written agreement, or which would otherwise be invalid or unenforceable.