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Current as of January 01, 2024 | Updated by Findlaw Staff
Subject to any existing security interest in the property, a museum may acquire title to undocumented property held by the museum for at least seven years as follows:
(1) The museum must give notice as provided in subsection (3) of section 51-703 that the museum is asserting title to the undocumented property; and
(2) If a claimant or lender does not respond to such notice within one year 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.
Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 51. Libraries and Museums § 51-705. Acquisition of title to undocumented property; when - last updated January 01, 2024 | https://codes.findlaw.com/ne/chapter-51-libraries-and-museums/ne-rev-st-sect-51-705/
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