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 for changes in ownership or contact information, and the process for terminating loans of unclaimed property. Museums are required to conduct a good faith search for lenders and provide notice of termination through certified mail or public publication if the lender cannot be located. If a lender fails to respond within specified timeframes, the museum may acquire title to the unclaimed property.

Additionally, the act allows museums to apply conservation measures to loaned property without the lender's permission if necessary for protection or safety, and it establishes a lien for expenses incurred in caring for unclaimed property. The act also clarifies that property on loan will not escheat to the Commonwealth and specifies exceptions for certain types of property, such as stolen items or those governed by federal law. Overall, the act aims to balance the interests of museums and lenders while ensuring the proper management of unclaimed loaned property.