Vermont Statutes Title 27 Sec. 1152
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Terms Used In Vermont Statutes Title 27 Sec. 1152
- Loan: means a deposit of property not accompanied by a transfer of title to the property. See
- Museum: means an institution operated by a nonprofit corporation or a public agency primarily for educational, scientific, historic preservation, or aesthetic purposes, and the institution owns, cares for, exhibits, studies, collects, archives, or catalogues property. See
- Property: means a tangible object, animate or inanimate, that has intrinsic, historic, artistic, scientific, or cultural value, and the object is under the care of a museum. See
§ 1152. Property held without a loan agreement
Any property held by a museum that is not subject to a loan agreement and has been held for 10 or more years and has remained unclaimed shall be deemed to be abandoned. The property shall become the property of the museum, provided the museum has given notice pursuant to section 1154 of this title and no assertion of title has been filed for the property within 180 days from the date of the third published notice. (Added 2007, No. 127 (Adj. Sess.), § 1.)