North Carolina · statute · N.C. Gen. Stat. ch. 25C · 12 active provisions
Definitions. As used in this Article unless the context clearly requires otherwise: (1) "Art dealer" means an individual, partnership, firm, association, or corporation that undertakes to sell a work of fine art created by someone else; (2) "Artist" means the creator of a work of fine art; (3) "On consignment" means de…
Interest of art dealer who accepts works of fine art on consignment. 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…
Status of works of fine art subsequently purchased by art dealer for his own account. Notwithstanding the subsequent purchase of a work of fine art by the art dealer directly or indirectly for the art dealer's own account, a work of fine art that is bailment property when initially accepted by the art dealer remains ba…
Creditors of art dealer may not reach works of fine art on consignment with art dealer. Property that is bailment property under this Article is not subject to the claims, liens, or security interests of the creditors of an art dealer. (1983, c. 822, s. 1; 1989, c. 464, s. 1.)
Risk of loss; insurable interest. Nothing in this Article shall affect any provision of law pertaining to the risk of loss between or among the parties to a consignment agreement under this Article or pertaining to the insurable interest of any such party. (1983, c. 822, s. 1; 1989, c. 464, s. 1.) §§ 25C-6 through 25C-…
Definitions. As used in this Article, the term: (1) "Artist" means any person who created or who conceived of and approved: a. The master image of a work of art for a print, including but not limited to a photograph or a negative; or b. The master image of a work of art which served as the model for a print. (2) "Art d…
General prohibitions. (a) An art dealer may not publish in or distribute in, into or from, this State any catalog, prospectus, circular, advertisement or other publication which solicits a direct sale, by inviting transmittal of payment for a specific print not exempt under G.S. 25C-16, unless it clearly sets forth, in…
Sale by artist; consignments. (a) The disclosure requirements of this Article do not apply to a sale of a print by the artist who produced the print, directly to a purchaser, without the intervention of a wholesale or retail merchant, unless the artist is an art dealer within the definition of G.S. 25C-10(2)a. or unles…
Warranties. (a) Whenever an art dealer discloses information as required by G.S. 25C-11, such information shall be a part of the basis of the bargain and shall create express warranties as to the information so provided. (b) When information is not disclosed as required by G.S. 25C-11, such nondisclosure shall constitu…
Disclosure requirements. (a) An art dealer who sells or offers to sell a print not exempt under G.S. 25C-16, shall disclose the following information in a writing to the prospective purchaser: (1) The name of the artist; (2) The year the plate or negative was created; (3) The year when the print was printed or created;…
Rights and liabilities not inclusive. (a) An art dealer who sells a print in violation of this Article shall be liable to the purchaser of the print; the purchaser shall be entitled to recover of the art dealer the consideration paid by the purchaser for the print, with interest at the legal rate thereon, upon the tend…
Exemptions. (a) This Article shall not apply to any print when offered for sale or sold at wholesale or retail for one hundred dollars ($100.00) or less, exclusive of the value of any frame. (b) This Article shall not apply to any print described clearly and conspicuously in writing by the seller as a "reproduction and…