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58-4010. Property records; retention period. On or after January 1, 1990, a museum shall at minimum maintain and retain the following records, either originals or accurate copies, for a period of not less than 25 years:

(a) A notice of intent to preserve an interest in property;

(b) the loan agreement, if any;

(c) a receipt or ledger for property delivered to an owner or claimant;

(d) records containing the following information, as available, for property in the museum's possession:

(1) The lender's name, address and phone number;

(2) the claimant's name, address and phone number;

(3) the donor's name, address and phone number;

(4) the seller's name, address and phone number;

(5) the nature and terms of the transaction (loan for specified term, loan for unspecified term, donation, purchase, etc.); and

(6) the beginning date of the loan period or transaction date.

History: L. 1989, ch. 120, ยง 10; July 1.


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