(1) A consignment of a work of fine art has the following effect:
(a) The consignee, after the delivery of fine art, is the agent of the consignor for the purpose of the exhibition or sale, or both, of the work of fine art within this state.
(b) The work of fine art, or the consignor's portion of the proceeds from the sale of the work, is not subject to the claims of a creditor of the consignee.
(c) A consignee is liable for the loss of or damage to the work of fine art while it is in the consignee's possession if the loss or damage is caused by the failure of the consignee to use the highest degree of care. For the purpose of this subsection, the value of the work of fine art is the value established in a written agreement between the consignor and consignee prior to the loss or damage or, if no written agreement regarding the value of the work of fine art exists, the consignor's portion of the fair market value of the work of fine art.
(d) The consignee may not be held liable for the loss of or damage to the work of fine art if the consignor fails to remove the work within a period of 30 days following the date agreed upon for removal of the work in the written contract between the consignor and the consignee or, if no written agreement regarding a removal date exists, 30 days after notice to remove the work of fine art is sent by registered mail or by certified mail with return receipt to the consignor at the consignor's last-known address.
(2) Upon written demand from the consignor, the consignee shall furnish the consignor with the name and address of the purchaser of the consignor's work, and the date of purchase and the price paid for the work, for any sale totaling $100 or more.
(3) The consignee's failure to furnish the information specified under subsection (2) of this section entitles the consignor to obtain an injunction ordering the disclosure of the information and money damages in an amount equal to three times the consignor's portion of the retail value of the work.
FindLaw Codes are provided courtesy of Thomson Reuters Westlaw, the industry-leading online legal research system. For more detailed codes research information, including annotations and citations, please visit Westlaw.
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 or via Westlaw before relying on it for your legal needs.