(a) In this subtitle the following words have the meanings indicated. (b) “Art dealer” means an individual, partnership, firm, association, or corporation, other than a public auctioneer, that undertakes to sell a work of fine art created by someone else. (c) “Artist” means the creator of a work of fine art. (d) “On consignment” means delivered to an art […]
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 […]
Notwithstanding the subsequent purchase of the work of fine art by the art dealer directly or indirectly for the art dealer’s own account, a work of fine art that is bailment property when initially accepted by the art dealer remains bailment property until the purchase price, minus the agreed upon commission, is paid in full […]
Property that is bailment property under this subtitle is not subject to the claims, liens, or security interests of the creditors of an art dealer.
