Title 34 Property, Conveyances and Security Transactions

34-23-105. Conservation or disposal of loaned property.

(a) A museum may apply measures to or dispose of property on loan to the museum without the permission of the lender if: (i) No notice of intent to preserve an interest has been filed or refiled pursuant to W.S. 34-23-104(a) and any applicable lending agreement has terminated; (ii) No notice of intent to preserve an interest has been filed and the lending agreement is still in effect or a notice of intent to preserve an interest has been filed within ten (10) years of the proposed conservation measure or disposal but: (A) Immediate action is required to protect the property on loan or other property in the custody of the museum and the lender cannot be reached at his last known address; (B) Immediate action is required because the property on loan has become a hazard to the health and safety of the public or the museum staff and the lender cannot be reached at his last known address; or (C) The lender does not agree to the conservation measures or to the disposal but is not willing or able to terminate the loan and retrieve the property. (iii) The museum holds the property as a presumed gift pursuant to W.S. 34-23-102(f). (b) Any museum applying conservation measures to property pursuant to paragraph (a)(ii) or (iii) of this section shall acquire ownership of the property or any proceeds from the disposition of the property. Any museum disposing of property pursuant to paragraph (a)(ii) or (iii) of this section shall not be liable for damage caused by sale of the property.