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IN SB0045
Bill
AI Summary
Senate Enrolled Act 45 - Museums Summary
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Changes museum board quorum requirement from 13 voting members to a majority of current members serving on the board, effective July 1, 2016.
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Requires lenders and designated agents to provide written notice to museums when their addresses change, and requires new owners to notify museums of ownership changes for loaned property.
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Reduces the timeframe for museums to acquire title to permanently loaned or expired-term property from one year to 60 days after lender receipt of termination notice.
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Shortens the holding period for museums to acquire title to undocumented property from seven years to three years, with a 60-day response period for claimants.
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Modifies notice requirements for property loans, including what information must be provided to lenders and procedures for publication notices when lender identity or address is unknown.
Legislative Description
Museums. Provides that a majority of the current members serving on the board of trustees of the Indiana state museum and historic sites corporation constitutes a quorum. (Current law specifies that 13 voting members of the board constitute a quorum.) Changes procedures concerning property loaned to a museum, including the acquisition of ownership of property loaned to a museum by the museum.
Last Action
Public Law 125
3/23/2016