Section 556D.1 - Definitions.

IA Code § 556D.1 (2019) (N/A)

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556D.1 Definitions.

As used in this chapter, unless the context requires otherwise:

1. “Art dealer” means a person engaged in the business of selling works of fine art, in a shop or gallery devoted in the majority to works of fine art, other than a person engaged in the business of selling goods of general merchandise or at a public auction.

2. “Artist” means the person who creates a work of fine art or, if such person is deceased, the person’s personal representative.

3. “Consignment” means a delivery of a work of fine art under which no title to, estate in, or right to possession superior to that of the consignor vests in the consignee, notwithstanding the consignee’s power or authority to transfer and convey to a third person all of the right, title, and interest of the consignor in and to the fine art.

4. “Fine art” means a painting, sculpture, drawing, mosaic, photograph, work of graphic art, including an etching, lithograph, offset print, silk screen, or work of graphic art of like nature, a work of calligraphy, or a work in mixed media including a collage, assemblage, or any combination of these art media which is one of a kind or is available in a limited issue or series. “Fine art” also means crafts which include work in clay, textiles, fiber, wood, metal, plastic, glass, or similar materials which is one of a kind or is available in a limited issue or series.

5. “Stated value” means the amount agreed to be paid to the consignor.

86 Acts, ch 1233, §1

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Section 556D.2 - Consignment.