The bill amends the Code of West Virginia by introducing a new article, designated as 36-8B, which establishes procedures for cultural heritage institutions to claim title to certain properties in their possession. It defines key terms such as "cultural heritage institution," "lender," "loan," "undocumented property," and "unsolicited donation." The bill outlines the process for cultural heritage institutions to acquire title to property on permanent loan, undocumented property, and unsolicited donations, including the requirement to provide notice to the lenders or potential owners. If the lenders do not respond within 60 days of receiving the notice, the cultural heritage institution can claim clear title to the property.

Additionally, the bill specifies conservation measures that cultural heritage institutions may take without the lender's permission if necessary for the protection of the property. It mandates that notices be sent via certified mail to the last known address of the lender, with provisions for notice by publication if the certified mail is undelivered or if the lender cannot be located. The bill also details the information that must be included in any notice sent by the cultural heritage institution, ensuring transparency and communication regarding the status of the property in question.

Statutes affected:
Introduced Version: 36-8B-1, 36-8B-2, 36-8B-3, 36-8B-4, 36-8B-5, 36-8B-6, 36-8B-7, 36-8B-8
Committee Substitute: 36-8B-1, 36-8B-2, 36-8B-3, 36-8B-4, 36-8B-5, 36-8B-6, 36-8B-7, 36-8B-8
Engrossed Committee Substitute: 36-8B-1, 36-8B-2, 36-8B-3, 36-8B-4, 36-8B-5, 36-8B-6, 36-8B-7, 36-8B-8