556D.4 Consignment — trust arrangement. A consignment remains trust property, even if purchased by the art dealer, until the price is paid in full to the artist. If the work is resold to a bona fide purchaser before the artist hasbeen paid in full, the proceeds of the resale received by the art dealer constitute funds heldin trust for the benefit of the artist to the extent necessary to pay any balance still due to theartist and the trusteeship continues until the fiduciary obligation of the art dealer with respectto the transaction is discharged in full. 86 Acts, ch 1233, §4 Sat Dec 23 11:04:40 2023 Iowa Code 2024, Section 556D.4 (14, 0)
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