§ 973. — Application for indemnity agreements.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 20USC973]
TITLE 20--EDUCATION
CHAPTER 26A--INDEMNITY FOR EXHIBITIONS OF ARTS AND ARTIFACTS
Sec. 973. Application for indemnity agreements
(a) Parties
Any person, nonprofit agency, institution, or government desiring to
make an indemnity agreement for eligible items under this chapter shall
make application therefor in accordance with such procedures, in such
form, and in such manner as the Council shall, by regulation, prescribe.
(b) Contents
An application under subsection (a) of this section shall--
(1) describe each item to be covered by the agreement (including
an estimated value of such item);
(2) show evidence that the items are eligible under section
972(a) of this title; and
(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.
(c) Approval
Upon receipt of an application under this section, the Council
shall, if such application conforms with the requirements of this
chapter, approve the application and make an indemnity agreement with
the applicant. Upon such approval, the agreement shall constitute a
contract between the Council and the applicant pledging the full faith
and credit of the United States to pay any amount for which the Council
becomes liable under such agreement. The Council, for such purpose, is
hereby authorized to pledge the full faith and credit of the United
States.
(Pub. L. 94-158, Sec. 4, Dec. 20, 1975, 89 Stat. 845.)
Section Referred to in Other Sections
This section is referred to in section 974 of this title.
