Section 265.53, Florida Statutes 2003
265.53 Application for indemnity agreement.--
(1) Any nonprofit agency, institution, or government in the state wanting to obtain indemnification for eligible items it proposes to borrow from a person, organization, institution, or government not in the state shall apply to the Department of State in accordance with procedures, in the form, and in the manner prescribed by department rule.
(2) The Department of Financial Services shall determine whether applicants qualify for indemnity coverage under ss. 265.51-265.56. Qualification criteria, which shall be set by rule, shall include factors such as:
(a) Physical security of an applicant's exhibition facilities and of the means of transportation of the eligible items from the borrower to the lender.
(b) Experience and qualifications of an applicant's director, curator, registrar, or other staff.
(c) Eligibility of an applicant's exhibition facilities for commercial insurance coverage of works of art displayed there.
(d) Availability of proper equipment to protect works of art from damage from extremes of temperature or humidity or exposure to glare, dust, or corrosion.
The department may consult with such private insurance and art experts as reasonably necessary to carry out the intent of this subsection.
(3) An application under subsection (1) shall:
(a) Describe each item to be covered by the agreement and include an estimated value of such item.
(b) Show evidence that the items are eligible under s. 265.52(1) and (2).
(c) Set forth policies, procedures, techniques, and methods with respect to preparation for, and conduct of, the exhibition of the items and any transportation related to such items to show compliance with the requirements of subsection (2).
(4) Upon receipt of an application under this section, the Department of State shall, if such application conforms to the requirements of ss. 265.51-265.56, approve the application and enter into an indemnity agreement with, and issue a certificate to, the lender of the eligible items, which shall constitute a contract among the department, the lender, and the applicant whereby the department becomes liable under such agreement.
History.--s. 1, ch. 81-231; s. 282, ch. 2003-261.