In order to take title pursuant to sections 184.101 to 184.122, a museum has the following obligations to a lender or claimant:

1. (1) The museum shall retain all written records regarding the property for at least three years from the date of taking title pursuant to sections 184.101 to 184.122;

2. (2) The museum shall keep written records of all loaned property acquired pursuant to section 184.111 or 184.112. Records maintained under this subsection shall contain the following information, as available:

   1. (a) The lender's name, address, and phone number;
   2. (b) The claimant's name, address, and phone number;
   3. (c) The nature and terms of the loan;
   4. (d) The beginning date of the loan period, if known;
3. (3) On or after December 31, 1991, a museum accepting a loan of property for an indefinite term or for a term of seven years or longer shall inform the lender in writing at the time of the loan of the provisions of sections 184.101 to 184.122. A copy of the form notice prescribed in section 184.114 or a citation to the provisions of sections 184.101 to 184.122 shall fulfill this obligation;
4. (4) The museum is responsible for notifying a lender or claimant of the museum's change of address or dissolution.

(L. 1991 S.B. 344 § 10)