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2017 New Mexico Statutes
Chapter 56 - Commercial Instruments and Transactions
Article 11 - Artists' Consignment
Section 56-11-3 - Art consignment; priority of claims, liens or security interests.
Universal Citation: NM Stat § 56-11-3 (2017)
56-11-3. Art consignment; priority of claims, liens or security interests.
A work of art delivered to an art dealer by an artist for the purpose of exhibition or sale, and the artists' [artist's] share of the proceeds from the sale of the work by the dealer, whether to the dealer on his own account or to a third person, shall create a priority in favor of the artist over the claims, liens or security interests of the creditors of the art dealer, notwithstanding any provision of the Uniform Commercial Code [Chapter 55 NMSA 1978].
History: Laws 1979, ch. 196, 3.
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