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 period for the lender to reclaim the property.

Additionally, the act specifies conditions under which museums can acquire title to unclaimed loaned property, including scenarios where lenders fail to respond within a designated timeframe after receiving notice. It also addresses the museum's rights to apply conservation measures to loaned property without lender consent under certain circumstances, and establishes a lien for expenses incurred in caring for unclaimed items. The act clarifies that it does not affect other property rights and provides exceptions for stolen property and items governed by federal law. The act will take effect 60 days after its passage.