{"data":{"id":"us-nc/n.c.-gen.-stat.-25c-2","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25C-2","heading":"Interest of art dealer who accepts works of fine art on consignment.","body":"If an art dealer accepts a work of fine art on a fee, commission, or other compensation basis on consignment from the artist:\n(1)\tThe art dealer is, with respect to that work of fine art, the bailee of the artist;\n(2)\tThe work of fine art is bailment property in which the art dealer has no legal or equitable interest until the work is sold to a bona fide third party; and\n(3)\tThe proceeds of the sale of the work of fine art are bailment property in which the art dealer has no legal or equitable interest until the amount due the artist from the sale, minus the agreed commission, is paid. (1983, c. 822, s. 1.)","path":["Chapter 25C. Sales of Artwork.","Article 1. Artwork on Consignment."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25C/GS_25C-2.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:59:02Z","sha256":"4c70e6a3bc1543782c3149ee9e75d6d3e677050c221a9f718cbca528495d77f1","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25c-1","next":"us-nc/n.c.-gen.-stat.-25c-3"},"notice":"GroundRules: Original legal text. Not legal advice."}