Section 19.22. Office's duty to lenders  


Latest version.
  • 1. When the office accepts a loan
      of property, it shall inform the lender in writing of the provisions  of
      this  article.  The  office shall also give notice to all lenders of any
      change in the address, status or jurisdiction of the office.
        2. The office shall give a lender, at  the  lender's  address,  prompt
      written  notice  by mail of any known injury to, or loss of, property on
      loan or of the need to apply conservation measures pursuant  to  section
      19.24 of this article. Such notice shall advise the lender of his right,
      in  lieu  of the application of such conservation measures, to terminate
      the loan and, no later than  thirty  days  after  having  received  such
      notice,  either  retrieve  the property or arrange for its isolation and
      retrieval. The office shall not be required to publish notice of  injury
      or loss to any undocumented property.