58-4010. Property records; retention period.

58-4010

Chapter 58.--PERSONAL AND REAL PROPERTY Part 6.--MISCELLANEOUS PROVISIONS Article 40.--MUSEUM PROPERTY

      58-4010.   Property records; retention period.On or after January 1, 1990, a museum shall at minimummaintain and retain the following records, either originals or accuratecopies, 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, forproperty 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, § 10; July 1.