44-1775. Art dealer required to obtain written
contract


A. An art dealer may accept a work of fine art, on a fee, commission or other
compensation basis, on consignment from the artist who created the work of fine art only
if prior to or at the time of acceptance the art dealer enters into a written contract
with the artist establishing:


1. The value of the work of fine art.


2. The time within which the proceeds of the sale are to be paid to the artist, if
the work of fine art is sold.


3. The minimum price for the sale of the work of fine art.


B. If an art dealer violates this section a court may, at the request of the
artist, void the obligation of the artist to that art dealer or to a person to whom the
obligation is transferred, other than a holder in due course.