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Current as of January 01, 2025 | Updated by Findlaw Staff
If an art dealer accepts a work of fine art on a fee, commission, or other compensation basis, on consignment from the artist:
(1) The art dealer is, with respect to that work of fine art, the bailee of the artist;
(2) The work of fine art is bailment property in which the art dealer has no legal or equitable interest until the work is sold to a bona fide third party; and
(3) The proceeds of the sale of the work of fine art are bailment property in which the art dealer has no legal or equitable interest until the amount due the artist from the sale, minus the agreed commission, is paid.
Cite this article: FindLaw.com - Maryland Code, Commercial Law § 11-8A-02 - last updated January 01, 2025 | https://codes.findlaw.com/md/commercial-law/md-code-coml-sect-11-8a-02/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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