Source: https://www.govinfo.gov/content/pkg/USCODE-2011-title20/html/USCODE-2011-title20-chap26A.htm
Timestamp: 2019-04-25 16:01:23+00:00

Document:
Agreements to indemnify against loss or damage.
Items eligible for indemnity agreements.
(1) For purposes of this chapter, the Council shall be an “agency” within the meaning of the appropriate definitions of such term in title 5.
1985—Subsec. (b). Pub. L. 99–194 designated existing provisions as par. (1) and added par. (2).
which are (A) of educational, cultural, historical, or scientific value, and (B) in the case of international exhibitions, certified by the Secretary of State or his designee as being in the national interest.
(1) An indemnity agreement made under this chapter shall cover eligible items while on exhibition in the United States or elsewhere preferably when part of an exchange of exhibitions.
(2) For purposes of this subsection, the term “on exhibition” includes that period of time beginning on the date the eligible items leave the premises of the lender or place designated by the lender and ending on the date such items are returned to the premises of the lender or place designated by the lender.
2007—Subsec. (a). Pub. L. 110–161 substituted “(B) in the case of international exhibitions,” for “(B) the exhibition of which is” in concluding provisions.
1985—Subsec. (b)(1). Pub. L. 99–194, which directed the substitution of “or elsewhere preferably when part of an exchange of exhibitions” for “, or elsewhere when part of an exchange of exhibitions, but in no case shall both parts of such an exhibition be so covered” was executed by making the substitution for “, or elsewhere when part of an exchange of exhibitions, but in no case shall both parts of such an exchange be so covered”, to reflect the probable intent of Congress.
(3) set forth policies, procedures, techniques, and methods with respect to preparation for, and conduct of, exhibition of the items, and any transportation related to such items.
Upon receipt of an application meeting the requirements of subsections (a) and (b) of section 973 of this title, the Council shall review the estimated value of the items for which coverage by an indemnity agreement is sought. If the Council agrees with such estimated value, for the purposes of this chapter, the Council shall, after approval of the application as provided in subsection (c) of section 973 of this title, make an indemnity agreement.
The aggregate of loss or damage covered by indemnity agreements made under this chapter shall not exceed $10,000,000,000 at any one time for international exhibitions, and $5,000,000,000 at any one time for domestic exhibitions.
No indemnity agreement for a single exhibition shall cover loss or damage in excess of $1,200,000,000 for international exhibitions, or $750,000,000 for domestic exhibitions.
(8) $500,000,000 or more, then coverage under this chapter shall extend only to loss or damage in excess of the first $500,000 of loss or damage to items covered.
2007—Subsec. (b). Pub. L. 110–161, §426(2), inserted “for international exhibitions, and $5,000,000,000 at any one time for domestic exhibitions” before period at end.
Subsec. (c). Pub. L. 110–161, §426(3), inserted “for international exhibitions, or $750,000,000 for domestic exhibitions” before period at end.
2005—Subsec. (b). Pub. L. 109–54, §427(1), substituted “$10,000,000,000” for “8,000,000,000”.
Subsec. (c). Pub. L. 109–54, §427(2), substituted “$1,200,000,000” for “$600,000,000”.
2003—Subsec. (b). Pub. L. 108–81, §501(1), substituted “$8,000,000,000” for “$5,000,000,000”.
Subsec. (c). Pub. L. 108–81, §501(2), substituted “$600,000,000” for “$500,000,000”.
1998—Subsec. (b). Pub. L. 105–277, §101(e) [title III, §333(1)], substituted “$5,000,000,000” for “$3,000,000,000”.
Subsec. (c). Pub. L. 105–277, §101(e) [title III, §333(2)], substituted “$500,000,000” for “$300,000,000”.
Subsec. (d)(4). Pub. L. 105–277, §101(e) [title III, §333(3)], struck out “or” at end.
Subsec. (d)(5). Pub. L. 105–277, §101(e) [title III, §333(4)], substituted “not less than $200,000,000 but less than $300,000,000” for “$200,000,000 or more” and substituted semicolon for period at end.
Subsec. (d)(6), (7). Pub. L. 105–277, §101(e) [title III, §333(5)], added pars. (6) and (7).
1990—Subsec. (b). Pub. L. 101–512, §318 [title III, §301(a)], substituted “$3,000,000,000” for “$1,200,000,000”.
Subsec. (c). Pub. L. 101–512, §318 [title III, §301(b)(1)], substituted “$300,000,000” for “$125,000,000”.
Subsec. (d)(4), (5). Pub. L. 101–512, §318 [title III, §301(b)(2)(A), (C)], added pars. (4) and (5).
1987—Subsec. (b). Pub. L. 100–202 substituted “$1,200,000,000” for “$650,000,000”.
Subsec. (c). Pub. L. 100–202 substituted “$125,000,000” for “$75,000,000”.
1985—Subsec. (b). Pub. L. 99–194, §303(a), substituted “$650,000,000” for “$400,000,000”.
Subsec. (c). Pub. L. 99–194, §303(b), substituted “$75,000,000” for “$50,000,000”.
1980—Subsec. (b). Pub. L. 96–496, §301, substituted “$400,000,000” for “$250,000,000”.
Subsec. (d). Pub. L. 96–496, §302, substituted provisions relating to deductible amounts under indemnity agreements for provisions limiting coverage under this chapter to loss or damage in excess of the first $15,000 resulting from a single exhibition.
Amendment by Pub. L. 101–512 effective Oct. 1, 1990, see section 318 [title IV, §403(b)] of Pub. L. 101–512, set out as a note under section 951 of this title.
1 So in original. Probably should be “$200,000,000,”.
2 So in original. Probably should be “this”.
The Council shall prescribe regulations providing for prompt adjustment of valid claims for losses which are covered by an agreement made pursuant to section 974 of this title, including provision for arbitration of issues relating to the dollar value of damages involving less than total loss or destruction of such covered objects.
In the case of a claim of loss with respect to an item which is covered by an agreement made pursuant to section 974 of this title, the Council shall certify the validity of the claim and the amount of the loss to the Speaker of the House of Representatives and the President pro tempore of the Senate.
There are hereby authorized to be appropriated such sums as may be necessary (1) to enable the Council to carry out its functions under this chapter, and (2) to pay claims certified pursuant to section 975(b) of this title.
Section, Pub. L. 94–158, §8, Dec. 20, 1975, 89 Stat. 846, which required the Federal Council on the Arts and Humanities to report annually to Congress on claims actually paid and pending claims against the Council under this chapter and the aggregate face value of contracts made by the Council which are outstanding, terminated, effective May 15, 2000, pursuant to section 3003 of Pub. L. 104–66, as amended, set out as a note under section 1113 of Title 31, Money and Finance. See, also, page 167 of House Document No. 103–7.

References: §426
 §426
 §427
 §427
 §501
 §501
 §101
 §333
 §101
 §333
 §101
 §333
 §101
 §333
 §101
 §333
 §318
 §301
 §318
 §301
 §318
 §301
 §303
 §303
 §301
 §302
 §403
 §8