Title 20, EducationRelease 119-110

§973 Application for Indemnity Agreements

Title 20 › CHAPTER 26A — INDEMNITY FOR EXHIBITIONS OF ARTS AND ARTIFACTS › § 973

Last updated Sep 22, 2026|Official source

Summary

People or organizations that want an indemnity agreement for eligible items must apply to the Council using the form and steps the Council sets. The application must list each item with an estimated value, show the items meet the eligibility rules in section 972(a), and describe how the items will be prepared, displayed, and moved. If the application meets the chapter’s rules, the Council will approve it and make a contract. That contract is backed by the United States government, and the Council may pledge that guarantee to pay any amounts it becomes liable for.

Full Legal Text

Title 20, §973

Education, Source: USLM XML via OLRC

(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) 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.

Reference

Citations & Metadata

Citation

20 U.S.C. § 973

Title 20, Education

Last Updated

Sep 22, 2026

Release point: 119-110