Arkansas § 13-5-1007 - Duties of lender concerning the lender's loan.
Full text of Arkansas Arkansas Code of 1987 Annotated § 13-5-1007 — Duties of lender concerning the lender's loan., with citation guidance and answers to common questions.
§ 13-5-1007. Duties of lender concerning the lender's loan.
A lender who has made a loan to a museum shall promptly notify the museum in writing about a change in: The lender's address; and A change in the ownership of the loan. It shall be the responsibility of the owner of a loan to provide sufficient proof of his or her ownership to the museum. If there is a dispute about ownership, the museum shall not be liable for its good faith refusal to surrender a loan unless ordered by a court of competent jurisdiction. If the museum notifies the lender by certified or registered mail, return receipt requested, that the loan is terminated, the lender shall: Acknowledge in writing the termination and inform the museum whether the lender wants the return of the loan; and Retrieve the loan no later than six (6) months from the date of the museum's notice terminating the loan if the lender wants the loan returned. If the lender fails to retrieve the loan within the time set out in subdivision (b)(2)(A) of this section, the loan shall be considered abandoned and ownership shall vest in the museum.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 13-5-1007
What does Arkansas Code of 1987 Annotated § 13-5-1007 cover?
Section 13-5-1007 ("Duties of lender concerning the lender's loan.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 13-5-1007?
A common citation format is "Arkansas Code of 1987 Annotated § 13-5-1007" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 13-5-1007 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.