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Tag Archives: Governor Cuomo

Change to New York Art Consignment Statute Adds Protections, Risks

Posted in Collections, Consignment, Legislation, Trusts

New York has passed an amendment to its Arts & Cultural Affairs law, N.Y. Arts & Cult. Aff. Law §12.01(2012), that is important for artist, galleries, and dealers alike.  It affects the consignment relationship and creates critical new duties—and liabilities, for the dealer on consignment.  Most importantly, it makes using any form of agreement drafted… Continue Reading