 
      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.
