Printable Format58-4010. 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.