In order to take title pursuant to this chapter a museum has the following obligations to a lender or claimant:
1. The museum shall retain all written records regarding the property for at least three years from the date of taking title pursuant to this chapter.
2. The museum shall keep written records on all loaned property acquired pursuant to section 305B.6. Records shall contain the following information:
a. Lender's name, address, and phone number.
b. Claimant's name, address, and phone number.
c. The nature and terms of the loan.
d. The beginning date of the loan period, if known.
3. A museum accepting a loan of property on or after January 1, 1989, shall inform the lender in writing at the time of the loan of the provisions of this chapter. A copy of the form notice prescribed in section 305B.8, or a citation to this chapter, is adequate for this purpose.
4. The museum is responsible for notifying a lender or claimant of the museum's change of address or dissolution.
88 Acts, ch 1117, §10
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