Montana § 22-2-504 Subsequent Sale -- Payment To Consignor

Montana Statutes

§ 22-2-504 — Subsequent Sale -- Payment To Consignor

Montana § 22-2-504

Title 22LIBRARIES, ARTS, AND ANTIQUITIES

Ch. 2ARTS

Part 5Sale of Fine Art by Art Dealer

This text of Montana § 22-2-504 (Subsequent Sale -- Payment To Consignor) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 22-2-504 (2026).

Text

22-2-504 . Subsequent sale -- payment to consignor. A work of fine art received as a consignment remains 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 consignor. If the work is resold to a bona fide purchaser before the consignor has been paid in full, the proceeds of the resale received by the consignee constitute funds held in trust for the benefit of the consignor to the extent necessary to pay any balance due to the consignor and the trusteeship continues until the fiduciary obligation of the consignee with respect to the transaction is discharged in full.

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

22-2-504 . Subsequent sale -- payment to consignor. A work of fine art received as a consignment remains 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 consignor. If the work is resold to a bona fide purchaser before the consignor has been paid in full, the proceeds of the resale received by the consignee constitute funds held in trust for the benefit of the consignor to the extent necessary to pay any balance due to the consignor and the trusteeship continues until the fiduciary obligation of the consignee with respect to the transaction is discharged in full.