Sec. 42-116m. Contract provisions.
Sec. 42-116m. Contract provisions. Whenever a consignee accepts a work of fine
art for the purpose of sale or exhibition and sale to the public on a commission, fee or
other basis of compensation, there shall be a written contract or agreement between
the consignor and consignee which shall include but not be limited to the following
provisions: (a) That the proceeds of the sale of the work of fine art shall be delivered
to the consignor at a schedule agreed upon by the consignor and consignee; (b) that the
consignee shall be responsible for the stated value of the work of fine art in the event
of the loss of or damage to such work of fine art while it is in the possession of such
consignee; (c) that the work of fine art shall only be sold by the consignee for an amount
at least equal to the amount agreed upon by the consignor in writing; (d) that the work
of fine art may be used or displayed by the consignee or others only with prior written
consent of the consignor and only if the artist is acknowledged in such use or display.
(P.A. 78-254, S. 3.)