Michigan Compiled Laws Act 90 Of 1970 Sales Of Fine Art (442.311 - 442.315)

AN ACT relating to the relationship between artists, art consignors, and art dealers; regulating certain consignment sales; establishing trust property and trust funds; limiting waivers of rights; and requiring certain receipts.

History: 1970, Act 90, Eff. Jan. 1, 1971 ;-- Am. 1982, Act 396, Eff. Mar. 30, 1983

Section 442.311 Definitions.
As used in this act: (a) “Art dealer” means a person engaged in the business of selling works of fine art, other than a...
Section 442.312 Consignment; Trust Property; Trust Funds; Claims, Liens, Or Security Interest.
Any custom, practice, or usage of the trade to the contrary notwithstanding: (a) When an artist or other person delivers or causes to be...
Section 442.312a Written Receipt As Condition To Commission On Consignment; Contents; Effect Of Prior Contract.
(1) An art dealer may accept a work of fine art for a commission on consignment only if before or at the time of...
Section 442.313 Repealed. 1982, Act 396, Eff. Mar. 30, 1983.
Compiler's Notes: The repealed section pertained to waiver of provisions of act.
Section 442.314 Effect Of Act As To Existing Contracts Or Arrangements.
This act does not affect any written or oral contract or arrangement in existence before January 1, 1971, nor to any extensions or renewals...
Section 442.315 Effective Date Of Act.
This act shall take effect on January 1, 1971. History: 1970, Act 90, Eff. Jan. 1, 1971

Last modified: October 10, 2016