Missouri Revised Statutes













Chapter 407

Merchandising Practices

←407.905

Section 407.907.1

407.908→

August 28, 2015

Waiver of proceeds in trust by artist, requirements.

407.907. An artist who is a consignor may lawfully waive the provisions

of subdivision (3) of section 407.904 if such waiver is clear, conspicuous,

in writing, and signed by the artist who is the consignor. No waiver shall

be valid with respect to the proceeds of a work of fine art initially

received "on consignment" but subsequently purchased by the consignee

directly or indirectly for his own account. No waiver shall inure to the

benefit of the consignor's creditors in any manner which might be inconsistent

with the rights under sections 407.900 to 407.910 of the artist who is the

consignor.



(L. 1984 S.B. 688 § 5)







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