Hi Valerie,
I know of a situation in a small museum where the founder loaned her collection on "permanent loan" - verbal agreement. Past directors and board members attempted to get the correct loan agreement paperwork signed, which the founder would not do. The individual kept saying its in my will, my kids know what to do. Years later, the founder parted ways with the museum's board and took their collection with them leaving the museum with a very small collection and in quite a predicament. This was a hard lesson learned by the museum. Directors and board members since then understand the importance of collection management policy. This museum will never be in a situation like that again. They will not accept permanent loans anymore. Either it is on loan for a specific amount of time and then returned OR it is on loan with the clear understanding that it will be gifted to the museum at a certain date.
This might not answer your question, but it is a true example of why there are policies and written loan / donation agreements.
-Martha
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Sent from my Android phone with mail.com Mail. Please excuse my brevity.
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