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Official Code of Georgia Annotated

Title 10. COMMERCE AND TRADE · Chapter 1. SELLING AND OTHER TRADE PRACTICES · Article 17A. CONSIGNMENT OF ART

10-1-524. Effects of consignment.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. A consignment of a work of art shall result in all of the following:

  2. (1)

    The art dealer, after delivery of the work of art, shall constitute an agent of the artist for the purpose of sale or exhibition of the consigned work of art within this state;#

  3. (2)

    The work of art shall constitute property held in trust by the consignee for the benefit of the consignor and shall not be subject to claim by a creditor of the consignee;#

  4. (3)

    The consignee shall be responsible for the loss of, or damage to, the work of art; and#

  5. (4)

    The proceeds from the sale of the work of art shall constitute funds held in trust by the consignee for the benefit of the consignor. Such proceeds shall first be applied to pay any balance due to the consignor, unless the consignor expressly agrees otherwise in writing.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 10-1-524, enacted by Ga. L. 1995, p. 267, § 1.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t10-(v8)-2024-pdf.pdf, Volume V8, 2024 edition, page 415; merge action: carried; file SHA-256 7afbade16da7.