Oregon Statutes 359.225 – Payment of sale proceeds of consigned work; consignors portion of funds not subject to claims of consignees creditors
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The proceeds from a sale of a work of fine art on consignment shall be paid to the consignor within 30 days of receipt by the consignee unless the consignor expressly agrees otherwise in writing. If the sale of the work of fine art is on installment, the funds from the installment shall first be applied to pay any balance due the consignor on the sale, unless the consignor expressly agrees in writing that the proceeds on each installment shall be paid according to the percentage established by the consignment agreement. The consignor’s portion of funds received on the sale of the work of fine art or on installment are not subject to the claims of a creditor of the consignee. [1981 c.410 § 6; 1985 c.830 § 5; 2011 c.230 § 4]
