Vermont § 1153 - Property held pursuant to a loan agreement
Full text of Vermont Vermont Statutes Online § 1153 — Property held pursuant to a loan agreement, with citation guidance and answers to common questions.
§ 1153. Property held pursuant to a loan agreement
- (a) Property in the possession of a museum subject to a loan agreement shall be deemed
to be donated to the museum, provided: (1) No claim is made or action filed to recover the property after termination of the
loan. (2) The museum provided notice as required pursuant to section 1154 of this title. (3) No assertion of title has been filed within 180 days following the date of the third
published notice. (b) A museum may terminate a loan of property if the loan was for an indefinite term and
the property has been held by the museum for 10 years or more by providing notice
pursuant to section 1154 of this title. For the purposes of this chapter, property on permanent loan shall be considered
property loaned for an indefinite term. (c) A museum may terminate a loan of property loaned for a specified term by providing
notice pursuant to section 1154 of this title any time after the expiration of the specified term or earlier if permitted by the
loan agreement. (d) The owner of property on loan to a museum shall notify the museum promptly of any
transfer of ownership or change in address of the owner. (e) Prior to acceptance of a loan of property, a museum shall provide to the owner of
the property written notice of the provisions of this chapter. (Added 2007, No. 127 (Adj. Sess.), § 1.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 1153
What does Vermont Statutes Online § 1153 cover?
Section 1153 ("Property held pursuant to a loan agreement") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 1153?
A common citation format is "Vermont Statutes Online § 1153" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 1153 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.