Chapter 104A

Section 1. As used in this chapter, the following words shall, unless the context clearly requires otherwise, have the following meanings: ''Artist'', the person who creates a work of fine art or, if such person is deceased, such person's heir, legatee, or personal representative…

Section 2. (a) Notwithstanding any custom, practice or usage of the trade to the contrary, or any other language herein, whenever a consignor delivers or causes to be delivered a work of fine art to a consignee in the commonwealth for the purpose of exhibition or sale, or both, o…

Section 3. The following provisions shall apply to consignment of a work of fine art: (a) The consignee, after delivery of the work of fine art, shall constitute an agent of the consignor for the purpose of sale or exhibition of the consigned work of fine art. (b) The work of fin…

Section 4. (a) A work of fine art received as a consignment, and the funds derived from the sale of the work of fine art, shall remain trust property, notwithstanding the subsequent purchase thereof by the consignee directly or indirectly for the consignee's own account until the…

Section 4A. (a) A consignee who accepts a work of fine art hereunder and who shall receive money upon the sale of a consigned work of fine art shall show the accounts of each consignor separately on its books. Maintenance by the consignee of separate sub-accounts at its bank in t…

Section 5. Any provision of a contract or agreement whereby the consignor waives any provision of this chapter is void.

Section 6. The provisions of this chapter shall not apply to a written contract executed prior to its effective date, unless either the parties agree by mutual consent that the provisions of this chapter shall apply or such contract is extended or renewed after the effective date…