The Museum Unclaimed Loaned Property Act establishes a framework for managing unclaimed loaned property held by museums in Pennsylvania. The act outlines the obligations of both museums and lenders regarding the loaned property, including recordkeeping requirements, notification procedures, and the process for terminating loans of unclaimed property. Museums are required to maintain accurate records of loaned items, inform lenders of their rights, and conduct reasonable searches for lenders before terminating loans. If a loan is terminated, museums must provide notice to the lender, either directly or through publication, and allow a specified period for the lender to reclaim the property.

Additionally, the act stipulates that museums can acquire title to unclaimed loaned property under certain conditions, such as if the lender fails to respond within 90 days of receiving notice of termination. It also allows museums to apply conservation measures to protect loaned property without lender consent in specific situations, and establishes a lien for expenses incurred in caring for unclaimed property. The act clarifies that it does not affect other property rights and provides exceptions for certain types of property, such as stolen items or those governed by federal law. The act will take effect 60 days after its enactment.