Art Market Legal Title Risk Challenges Facing the U.S. Nonprofit Museum Community Including General Museums and University Museums

This paper is a technical summary of some of the challenges facing the U.S. nonprofit museum community in regard to risk management of art ownership. It includes a summary of key events that has shaped the art market over the last 50 years as well as consideration of the effects of Sarbanes-Oxley and issues surrounding D&O insurance, where museums and art trustees are not typically protected against art market legal title risk.