Michigan Laws 442.352 – Information required; transactions to which act applicable
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(1) An art merchant shall not sell or consign a multiple in, into, or from the state unless a written instrument is furnished to the purchaser or consignee, before the sale or consignment, which states as to each multiple the information required under sections 5, 6, 7, and 8 for the applicable time period. For auctions, this information may be furnished in a catalog or other written material which is readily available for examination and purchase before the sale, if a bill of sale, receipt, or invoice describing the sale is supplied which makes reference to the catalog and lot number in which the information appears.
(2) Information supplied pursuant to subsection (1) shall be clearly, specifically, and distinctly addressed to each of the items listed in sections 5, 6, 7, and 8. If an item of information that is required is not applicable or is not known, the art merchant shall state that the item is not applicable or is not known.
Terms Used In Michigan Laws 442.352
- Art merchant: means a person who deals in multiples, or who by his or her occupation holds himself or herself out as having knowledge or skill peculiar to a person who deals in multiples, or who employs a broker, agent, or other intermediary who holds himself or herself out as having knowledge or skill peculiar to a person who deals in multiples. See Michigan Laws 442.351a
- Sale: means sale or exchange. See Michigan Laws 442.351a
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- Written instrument: means a written agreement, bill of sale, invoice, certificate of authenticity, catalog, or other memorandum describing a multiple which is to be sold or consigned by an art merchant. See Michigan Laws 442.351a
(3) At the request of a prospective purchaser, the information required by subsection (1) shall be furnished before payment or the placing of an order for a multiple. If payment is made by the purchaser before delivery of the multiple, the information shall be furnished at the time of or before delivery, in which case, the purchaser shall be entitled to a refund if, for reasons related to the information, the purchaser returns the multiple in substantially the condition in which received, within 30 days after receipt.
(4) Except as otherwise provided, this act applies to transactions between art merchants and other art merchants, as well as to transactions between art merchants and non-art merchants.