New Hampshire § 352:5 Purchase or Resale of Consigned Art by Art Dealer

New Hampshire Statutes

§ 352:5 — Purchase or Resale of Consigned Art by Art Dealer

New Hampshire § 352:5

Title XXXITRADE AND COMMERCE

Ch. 352AUTHORS' AND ARTISTS' PRODUCTIONS

SubdivisionConsignment of Works of Art

This text of New Hampshire § 352:5 (Purchase or Resale of Consigned Art by Art Dealer) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 352:5 (2026).

Text

I.If a work of art is trust property under RSA 352:4 when it is initially received by the art dealer, it shall remain trust property, notwithstanding the subsequent purchase of the work of art by the art dealer directly or indirectly for the art dealer's own account, until the purchase price specified pursuant to RSA 352:7 is paid in full to the artist.

II.If an art dealer resells a work of art that he purchased for his own account to a bona fide third party before the artist has been paid in full, the work of art shall cease to be trust property and the proceeds of the resale shall be trust funds in the possession or control of the art dealer for the benefit of the artist to the extent necessary to pay any balance still due to the artist. The trusteeship of the proceeds shall continue u

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I. If a work of art is trust property under RSA 352:4 when it is initially received by the art dealer, it shall remain trust property, notwithstanding the subsequent purchase of the work of art by the art dealer directly or indirectly for the art dealer's own account, until the purchase price specified pursuant to RSA 352:7 is paid in full to the artist.
II. If an art dealer resells a work of art that he purchased for his own account to a bona fide third party before the artist has been paid in full, the work of art shall cease to be trust property and the proceeds of the resale shall be trust funds in the possession or control of the art dealer for the benefit of the artist to the extent necessary to pay any balance still due to the artist. The trusteeship of the proceeds shall continue until the artist is paid in full under the contract entered into pursuant to RSA 352:7. A separate trust account for each artist shall not be required under this subdivision.