The dollar amounts of the limits described below are found in the guidelines referred to in § 1160.1 and are based upon the statutory limits in the Arts and Artifacts Indemnity Act (20 U.S.C. 974).
- (a) There is a maximum amount of loss or damage covered in a single exhibition or an Indemnity Agreement.
- (b) A sliding scale deductible amount is applicable to loss or damage arising out of a single exhibition for which an indemnity is issued.
- (c) There is an aggregate amount of loss or damage covered by indemnity agreements at any one time.
- (d) The maximum value of eligible items carried in or upon any single instrumentality of transportation at any one time, is established by the Council.
[56 FR 49848, Oct. 2, 1991. Redesignated at 60 FR 42465, Aug. 16, 1995, and further redesignated at 73 FR 21056, Apr. 18, 2008]