§ 32-34-5-13 — Acquiring title for undocumented property; notice

A museum may acquire title to
undocumented property held by the museum for at least three (3) years
as follows:
(1) The museum must give notice that the museum is asserting
title to the undocumented property.
(2) The notice that the museum is asserting title to the property
must include a statement containing substantially the following
information:
"The records of (name of museum) fail to indicate the owner of
record of certain property in its possession. The museum hereby
asserts title to the following property: (general description of
property). If you claim ownership or other legal interest in this
property, you must contact the museum, establish ownership of
the property, and make arrangements to collect the property. If
you fail to do so within sixty (60) days, you will be considered
to have waived any claim you may have had to the property.".
(3) If a lender does not respond to the notice within sixty (60)
days by giving a written notice of intent to retain an interest in the
property on loan, the museum's title to the property becomes
absolute.
[Pre-2002 Recodification Citation: 32-9-10-13.]

Legislative History

As added by P.L.2-2002, SEC.19. Amended by P.L.125-2016, SEC.6.