NC H367

Allows the Department of Cultural Resources to use net proceeds from artifact sales for maintenance and conservation expenses of other artifacts, in addition to purchasing new artifacts.

Creates a new process for museums and archives repositories to acquire title to documented loaned property after seven years of no contact with the lender, requiring certified mail notice and newspaper publication before title transfer.

Establishes procedures for acquiring title to undocumented or unclaimed property in museum possession after seven years, with public notice requirements, after which museums own the property free and clear of all claims.

Requires lenders of loaned property to maintain contact with museums and provide current address information; protects museums from liability when acting in good faith based on representations of the person transferring property.

Allows museums and archives repositories to charge expenses for care of unclaimed loaned property and place liens against property value for reasonable protective costs.