Ill. Admin. Code tit. 44 § 5010.1300

Current through Register Vol. 48, No. 49, December 6, 2024

Section 5010.1300 - Property Value

a) Personal property that is at least 40 years old, has historic value, or is of special interest, culturally, scientifically or otherwise, is exempt from the normal methods of disposal described in the State Property Control Act and this Part.

b) The CMS Director will determine the final disposition of antiques and historical or special interest property.

1) When the Director of CMS ensures that the criteria in subsection (a) are met, the following procedure for disposal shall be used:

A) The Director will attempt to loan or donate the property to public museums or galleries.

B) Right of first refusal shall be vested in the Illinois State Museum, and then to any other public museum or publicly owned historic site in Illinois. If no museum in Illinois desires the property, federal museums and historic sites will be given the opportunity to claim the property.

C) Any display of the property shall acknowledge the State's role in the loan or donation.

D) The property shall not later be sold or transferred by the holding entity. Such sale or transfer will allow the State to immediately reclaim the property.

E) Should no entity wish to receive the property, the Director will dispose of it by negotiated sale. Minimum price shall be the property's appraised value, as determined prior to the negotiated sale, determined by a qualified appraiser, the appraiser's qualifications having been evaluated and determined in accordance with prevailing industry standards or practices.

2) The Director's choice shall be based on the type of property, the geographical location of the institution requesting the property, and the institution's ability to display the property.

Ill. Admin. Code tit. 44, § 5010.1300

Amended at 16 Ill. Reg. 17595, effective November 9, 1992

Amended at 43 Ill. Reg. 5637, effective 5/3/2019