When an artist gives their artwork to an art dealer to sell, the artwork and any money from its sale are protected for the artist. If the dealer sells the art but has not yet paid the artist, the money from that sale is held separately and belongs to the artist until the artist is fully paid. The dealer cannot use that money for anything else until the artist gets what they are owed.
407.905. is of artist — work of art and sale for artist, not subject to of . — A received as a from the artist who created the work of fine art shall rema property, 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 . If such work is thereafter resold to a before the artist who is consignor has been paid in full, the proceeds of the received by the consignee shall constitute funds held in trust for the of the artist who is consignor to the extent necessary to pay any balance due to the artist who is consignor and such shall continue until the of the consignee to the artist who is the consignor with respect to such is .
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Source & history notes
(L. 1984 S.B. 688 § 4)
Related Missouri laws
Consignment, effect
RSMo 407.904
Waiver of proceeds in trust by artist, requirements
RSMo 407.907
Art delivered to art dealer for sale or exhibition deemed consignment, when, exception
RSMo 407.902
Contracts, prior to August 13, 1984, not affected, exceptions
RSMo 407.908
Definitions
RSMo 407.900
Violations
RSMo 407.910
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.