(1) An art dealer may accept a work of fine art, on a fee, commission or other compensation basis, on consignment from the artist who created the work of fine art only if prior to or at the time of acceptance the art dealer enters into a written contract with the artist establishing:
(a) The retail value of the work of fine art;
(b) The time within which the proceeds of the sale are to be paid to the artist, if the work of fine art is sold;
(c) The minimum price for the sale of the work of fine art; and
(d) The fee, commission or other compensation basis of the art dealer.
(2) An art dealer who accepts a work of fine art on a fee, commission or other compensation basis on consignment from the artist may use or display the work of fine art or a photograph of the work of fine art or permit the use or display of work or photograph only if:
(a) The art dealer gives notice to users or viewers that the work of fine art is the work of the artist; and
(b) The artist gives prior written consent to the particular use or display. [1981 c.410 §5; 1985 c.830 §4]
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