(A) "Cultural property" means:
(1) any work of art, including, but not limited to, paintings, drawings, prints, decorative art, craft work, photographs, documents, costumes, weapons, tools, and equipment of the various trades and professions, archaeological and geological specimens, zoological and botanical specimens, historical artifacts, and objects associated with historical persons or events; and
(2) an object, which when exhibited, serves to further the educational goals of the exhibiting nonprofit organization.
(B) "Nonprofit organization" means any nonprofit museum, gallery, library, college, university, school, church, or other institution or organization organized exclusively for artistic, religious, charitable, scientific, literary, or educational purposes, or to promote the study or advancement of the arts or sciences, or to sustain, encourage, or promote the musical or performing arts.
(C) "Loan or on loan" means all deposits of cultural property with a nonprofit organization which are not accompanied by a transfer of title to the property.
(D) "Date of acquisition" means the date of the initial delivery of the loaned cultural property to the nonprofit organization.
(E) "Lender" means any individual, corporation, business trust, estate, trust, partnership, or association, who deposits cultural property with a nonprofit organization without transferring title of the property to the nonprofit organization.
(F) "Board" means Abandoned Cultural Property Board.
(G) "Abandoned Cultural Property" means the cultural property meeting the following two conditions:
(1) the property was deposited with a nonprofit organization as described in subsection (C);
(2) the original lender or his heirs or assigns have not contacted the nonprofit organization for at least ten years after the date of acquisition, if the loan was for an indefinite or indeterminate period, and for at least ten years after the date upon which a loan for a definite duration expired.
HISTORY: 1987 Act No. 22, Section 1.