Wednesday, June 12, 2013

Michigan Senate Moves to Protect Art Collection at Detroit Institute of Arts

The Michigan Senate has passed a bill intended to protect the Detroit Institute of Arts art collection from sale in the event of a bankruptcy in the City of Detroit.

The Detroit Free Press reports that the Senate voted 24-13 to codify ethical standards adopted by the American Alliance of Museums which bars museums from selling artwork for purposes other than enhancement of the museum’s collection.  The bill now moves to the Michigan House of Representatives.

Detroit’s emergency manager, Kevyn Orr, recently stirred outrage when he said that he has to consider the value of all the city’s jewels when determining how to pull the city out of financial crisis.  Orr went on to say that he was evaluating the DIA’s art collection and preparing in case creditors seek repayment of their debts through asset sales.

VEJ

http://lawprofessors.typepad.com/nonprofit/2013/06/michigan-senate-moves-to-protect-art-collection-at-detroit-institute-of-arts.html

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