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§ 11-8A-02. Art dealers

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 11. Trade Regulation
Subtitle 8a. Consignment of Works of Fine Art (Refs & Annos)
MD Code, Commercial Law, § 11-8A-02
§ 11-8A-02. Art dealers
Currentness
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.

Credits

Added by Acts 1983, c. 486 § 1, eff. July 1, 1983.
MD Code, Commercial Law, § 11-8A-02, MD COML § 11-8A-02
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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