ORS 359.205
Delivery of art work to dealer as consignment

  • exception for direct sale work as trust property

(1)

Notwithstanding any custom, practice or usage of the trade to the contrary, whenever a consignor delivers or causes to be delivered a work of fine art to an art dealer in this state for the purpose of exhibition or sale, or both, on a commission, fee or other basis of compensation, the delivery to, and acceptance by, the art dealer of the work of fine art constitutes a consignment unless the delivery to the art dealer is pursuant to an outright sale for which the consignor receives or has received compensation for the work of fine art upon delivery.

(2)

A work of fine art is trust property in the hands of the art dealer, who is trustee for the benefit of the consignor until the work of fine art is sold to a bona fide third party.

(3)

The proceeds of the sale of a work of fine art are trust property in the hands of the art dealer who is trustee for the benefit of the consignor until the amount due the consignor from the sale is paid. Nothing in this subsection requires a separate trust account for each consignor.

(4)

A work of fine art that is trust property when initially accepted by the art dealer remains trust property notwithstanding the subsequent purchase of the work of fine art by the art dealer directly or indirectly for the art dealer’s own account, until the purchase price is paid in full to the consignor.

(5)

The trust relationship described in this section imposes no duty greater than the duties described in ORS 359.200 (Definitions for ORS 359.200 to 359.255) to 359.210 (Effect of treating art work delivery as consignment), 359.220 (Consignment contract requirements), 359.225 (Payment of sale proceeds of consigned work), 359.250 (Liability of art dealer for violation of ORS 359.220) and 359.255 (Attorney fees) and does not give rise to any general trust or fiduciary relationship. [1981 c.410 §2; 1985 c.830 §2; 2011 c.230 §1]

Source: Section 359.205 — Delivery of art work to dealer as consignment; exception for direct sale work as trust property, https://www.­oregonlegislature.­gov/bills_laws/ors/ors359.­html.

359.010
Definitions for ORS 359.010 to 359.142 359.020
Oregon Arts Commission 359.025
Commission duties 359.030
Objectives of Arts Program 359.040
Duties of Arts Program 359.050
Powers of Arts Program 359.065
Arts Program established 359.100
Grants and services from public and private sources 359.110
Gifts 359.120
Arts Trust Account 359.130
Powers not granted or transferred 359.135
Administrator 359.137
Staff 359.142
Rules 359.200
Definitions for ORS 359.200 to 359.255 359.205
Delivery of art work to dealer as consignment 359.210
Effect of treating art work delivery as consignment 359.215
Consignment does not create rights in consignee greater than those of consignor 359.220
Consignment contract requirements 359.225
Payment of sale proceeds of consigned work 359.230
Contract provision waiving protections for consignor is void 359.235
ORS 359.200 to 359.240 not to affect prior transactions 359.240
Secreting, withholding or appropriating art work or sale proceeds 359.250
Liability of art dealer for violation of ORS 359.220 359.255
Attorney fees 359.300
Definitions for ORS 359.300 to 359.315 359.305
Disclosure statements required 359.310
Contents of disclosure statement 359.315
Liability for failure to disclose 359.350
Definitions for ORS 359.350 to 359.365 359.355
Art work reproduction rights retained by artist unless expressly transferred 359.360
Ownership of physical work of art remains with artist unless expressly transferred 359.365
Ambiguity in agreement transferring right to reproduce art work resolved in favor of artist 359.400
Definitions for ORS 359.400 to 359.444 359.405
Trust for Cultural Development Account 359.407
Use of moneys transferred to trust for marketing and promotional costs 359.410
Board established 359.413
Board quorum 359.416
Board duties 359.421
Board staff 359.423
Board solicitation or acceptance of gifts, bequests, devises of money, securities or other property 359.426
Percentage that may be disbursed 359.431
Cultural Development Grant Program 359.436
Community Cultural Participation Grant Program 359.441
Core partner agencies disbursement 359.444
Allowable uses of funds by core partner agencies
Green check means up to date. Up to date

Current through early 2024

§ 359.205’s source at oregon​.gov