(1) "Address" means the most recent location of a claimant or lender as indicated by a museum's records pertaining to the property;

(2)

(A) "Claimant" means a person who has established or claims entitlement to or an interest in property held by a museum.

(B) "Claimant" does not mean a lender;

(3) "Lender" means the person identified by the records of a museum as the owner or rightful possessor of a loan held by a museum;

(4)

(A) "Loan" means property that a lender has placed in the custody of a museum.

(B) "Loan" does not include a consignment of property for sale or property donated to a museum;

(5) (A) "Museum" means an institution or entity located in Arkansas that:

(i) Is operated by a nonprofit corporation, trust, association, public agency, or educational institution;

(ii) Is operated primarily for educational, scientific, historic preservation, cultural, or aesthetic purposes; and

(iii) Owns, borrows, cares for, exhibits, studies, archives, or catalogues property.

(B) "Museum" includes historical societies, historic sites, landmarks, parks, archives, monuments, botanical gardens, arboreta, zoos, nature centers, planetaria, aquaria, libraries, technology centers, and art, history, science, and natural history museums;

(6) "Permanent loan" means a loan to a museum for an indefinite term;

(7) "Person" means an individual, association, partnership, corporation, trust, estate, or other entity;

(8) "Property" means a document or tangible object, animate or inanimate, with intrinsic historic, scientific, artistic, or cultural value that is in the custody of a museum;

(9) "Unclaimed property" means property meeting the following conditions:

(A) The property was placed with the museum for exhibition or other purposes; and

(B) The original person placing the property with the museum, or a person acting legitimately on the original person's behalf, has not contacted the museum in writing regarding the property for at least:

(i) Ten (10) years from the date of the beginning of the period for which the property was placed with the museum if the property was placed with the museum for an indefinite or undetermined period; or

(ii) Five (5) years after the date upon which the definite period in which the property was placed with the museum expired; and

(10) (A) "Undocumented property" means property:

(i) That is held by a museum; and

(ii) The ownership of which cannot be determined from the museum's records.

(B) Undocumented property shall not be construed to include loaned property.