Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of December 31, 2021 | Updated by FindLaw Staff
(a)(1) A museum may acquire title to property that is on permanent loan to the museum or that was loaned for a specified term that has expired by giving notice that the museum is terminating the loan of the property.
(2) In addition to the information required under § 17-408 of this subtitle, the notice required under paragraph (1) of this subsection shall contain the following statement:
“The records at (name of museum) indicate that you have property on loan to it. The museum hereby terminates the loan. If you desire to claim the property, you must contact the museum, establish your ownership of the property, and make arrangements to collect the property. If you do not contact the museum within 60 days, you will be considered to have donated the property to the museum.”.
(3) If, within 60 days after receiving the notice, the lender does not respond by filing a notice of intent to preserve an interest in the property on loan, clear and unrestricted title is transferred to the museum.
(b) If a loan of property to a museum is not a permanent loan and does not have a specific expiration date, the property is presumed abandoned if, for at least 7 years after the date the museum took possession of the property, there has not been any written communication between the museum and the lender or lender's designated agent.
Cite this article: FindLaw.com - Maryland Code, Commercial Law § 17-402 - last updated December 31, 2021 | https://codes.findlaw.com/md/commercial-law/md-code-coml-sect-17-402/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)