Missouri § 407.905 Art dealer is agent of artist — work of art and sale proceeds held in trust for artist, not subject to creditor of consignee.

Missouri Statutes

§ 407.905 — Art dealer is agent of artist — work of art and sale proceeds held in trust for artist, not subject to creditor of consignee.

Missouri § 407.905

Title XXVITRADE AND COMMERCE

Ch. 407Merchandising Practices

This text of Missouri § 407.905 (Art dealer is agent of artist — work of art and sale proceeds held in trust for artist, not subject to creditor of consignee.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 407.905 (2026).

Text

A work of fine art received as a consignment from the artist who created the work of fine art shall remain trust property, notwithstanding the subsequent purchase thereof by the consignee directly or indirectly for the consignee's own account until the price is paid in full to the artist who is consignor.  If such work is thereafter resold to a bona fide purchaser before the artist who is consignor has been paid in full, the proceeds of the resale received by the consignee shall constitute funds held in trust for the benefit of the artist who is consignor to the extent necessary to pay any balance still due to the artist who is consignor and such trusteeship shall continue until the fiduciary obligation of the consignee to the artist who is the consignor with respect to such transaction is

Free access — add to your briefcase to read the full text and ask questions with AI

A work of fine art received as a consignment from the artist who created the work of fine art shall remain trust property, notwithstanding the subsequent purchase thereof by the consignee directly or indirectly for the consignee's own account until the price is paid in full to the artist who is consignor. If such work is thereafter resold to a bona fide purchaser before the artist who is consignor has been paid in full, the proceeds of the resale received by the consignee shall constitute funds held in trust for the benefit of the artist who is consignor to the extent necessary to pay any balance still due to the artist who is consignor and such trusteeship shall continue until the fiduciary obligation of the consignee to the artist who is the consignor with respect to such transaction is discharged in full.