1. 1. On or after January 1, 1989, a museum shall at minimum maintain and retain the following records, either originals or accurate copies, for a period of not less than twenty-five years:

   1. a. A notice of intent to preserve an interest in property.
   2. b. The loan agreement, if any, and a receipt or ledger for property on loan.
   3. c. A receipt or ledger for property delivered to an owner or claimant.

   4. d. Records containing the following information, as available, for property in the museum’s possession:

      1. (1) Lender’s name, address, and phone number.
      2. (2) Claimant’s name, address, and phone number.
      3. (3) Donor’s name, address, and phone number.
      4. (4) Seller’s name, address, and phone number.
      5. (5) The nature and terms of the transaction (loan for specified term, loan for unspecified term, donation, purchase, etc.).
      6. (6) The beginning date of the loan period or transaction date.
2. 2. The department of administrative services may by rule determine the minimum form and substance of recordkeeping by museums with regard to museum property to implement this chapter.

Subsection 2 amended

88 Acts, ch 1117, §11; 2010 Acts, ch 1061, §180; 2023 Acts, ch 19, §1417