(a) An art dealer may accept a work of art on a fee, commission, or other compensation basis on consignment from the artist who created the work of art only if prior to or at the time of acceptance the art dealer enters into a written contract with the artist establishing:
(1) The value of the work of art;
(2) The time within which the proceeds of the sale are to be paid to the artist if the work of art is sold; and
(3) The minimum price for the sale of the work of art.
(b) If an art dealer violates this Code section, a court may, at the request of the artist, void the obligation of the artist to that art dealer or to a person to whom the obligation is transferred other than a holder in due course.
Section: Previous 10-1-520 10-1-521 10-1-522 10-1-523 10-1-524 10-1-525 10-1-526 10-1-527 10-1-528 10-1-529 NextLast modified: October 14, 2016