North Carolina § 25C-2 Interest of art dealer who accepts works of fine art on consignment

North Carolina Statutes

§ 25C-2 — Interest of art dealer who accepts works of fine art on consignment

North Carolina § 25C-2

Ch. 25CSales of Artwork

Art. 1Artwork on Consignment

This text of North Carolina § 25C-2 (Interest of art dealer who accepts works of fine art on consignment) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 25C-2 (2026).

Text

If an art dealer accepts a work of fine art on a fee, commission, or other compensation basis on consignment from the artist:

(1)The art dealer is, with respect to that work of fine art, the bailee of the artist;

(2)The work of fine art is bailment property in which the art dealer has no legal or equitable interest until the work is sold to a bona fide third party; and

(3)The proceeds of the sale of the work of fine art are bailment property in which the art dealer has no legal or equitable interest until the amount due the artist from the sale, minus the agreed commission, is paid. (1983, c. 822, s. 1.)

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If an art dealer accepts a work of fine art on a fee, commission, or other compensation basis on consignment from the artist:
(1) The art dealer is, with respect to that work of fine art, the bailee of the artist;
(2) The work of fine art is bailment property in which the art dealer has no legal or equitable interest until the work is sold to a bona fide third party; and
(3) The proceeds of the sale of the work of fine art are bailment property in which the art dealer has no legal or equitable interest until the amount due the artist from the sale, minus the agreed commission, is paid. (1983, c. 822, s. 1.)