§ 21-47n “Fine art” defined. License required
§ 21-47o Fine art secured lender license
§ 21-47p Identification required. Record keeping system. Exemptions
§ 21-47q Memorandum or note. Limitation on fee for use of money loaned. Check, draft and money order requirements
§ 21-47r Quarterly transaction statements. Exemption
§ 21-47s Receipt for seized property. Request for return
§ 21-47t Sale or disposal of fine art by lender. Right of redemption or repurchase
§ 21-47u Penalties
§ 21-47v Exclusions

Terms Used In Connecticut General Statutes > Chapter 409a - Fine Art Secured Lenders

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appraisal: A determination of property value.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • month: means a calendar month, and the word "year" means a calendar year, unless otherwise expressed. See Connecticut General Statutes 1-1
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.