Fla. Stat. 686.502
Consignment relationship; notice; proceeds of sales held in trust; contract requirements

(1)

Whenever a consignor delivers, or causes to be delivered, a work of art to a consignee for the purpose of sale, or exhibition and sale, to the public on a commission, fee, or other basis of compensation, the delivery to and acceptance thereof by the art dealer is deemed to be “on consignment”; and, with respect to the work of art, such consignee shall thereafter be deemed to be the agent of such consignor.

(2)

Whenever a consignor delivers or causes to be delivered a work of art to a consignee, such consignor shall give notice to the public by affixing to such work of art a sign or tag which states that such work of art is being sold subject to a contract of consignment, or such consignee shall post a clear and conspicuous sign in the consignee’s place of business giving notice that some works of art are being sold subject to a contract of consignment.

(3)

The proceeds of sale of a work of art shall be held in trust by the consignee for the benefit of the consignor. Such proceeds shall be applied first in payment of any amount due to the consignor.

(4)

Any provision of a contract or agreement whereby the consignor waives any of the provisions of this section is void.

Source: Section 686.502 — Consignment relationship; notice; proceeds of sales held in trust; contract requirements, https://www.­flsenate.­gov/Laws/Statutes/2024/0686.­502 (accessed Aug. 7, 2025).

686.30
Contract agreements for repair parts for motor vehicles and trucks 686.40
Agricultural Equipment Manufacturers and Dealers Act 686.41
Indemnification of dealer with respect to legal actions 686.60
Short title 686.401
Legislative finding and intent 686.402
Definitions of terms used in ss 686.403
Application of ss 686.405
Warranty agreements 686.406
Parts 686.407
Repurchase of inventory upon termination of franchise agreement 686.408
Repurchase of inventory upon death or incapacity of dealer 686.409
Compensation for inventory upon refusal to renew, termination of, or restriction on transfer of a franchise 686.413
Unlawful acts and practices 686.415
Unenforceable contract or franchise agreement 686.417
Remedies 686.418
Effect of act on other remedies 686.501
Definitions 686.502
Consignment relationship 686.503
Contract provisions 686.504
Warranties by art dealers 686.505
Construction of language 686.506
Rights and liabilities, additional 686.601
Legislative finding and intent 686.602
Definitions of terms used in ss 686.603
Application 686.604
Warranty agreements 686.605
Parts 686.606
Repurchase of inventory upon termination of dealer agreement 686.607
Repurchase of inventory upon death or incapacity of dealer 686.608
Compensation for inventory upon refusal to renew, termination of, or restriction on transfer of a dealer agreement 686.609
Indemnification of dealer with respect to legal actions 686.611
Unlawful acts and practices 686.612
Unenforceable contract or agreement 686.613
Remedies 686.614
Effect of act on other remedies 686.701
Reimbursement of federal excise taxes on motor fuel

Current through Fall 2025

§ 686.502. Consignment relationship; notice; proceeds of sales held in trust; contract requirements's source at flsenate​.gov