Schuette Approves Safeguards for DIA Art In City's Bankruptcy PlanContact: Joy Yearout 517-373-8060
June 17, 2014
LANSING - Attorney General Bill Schuette today announced his approval of the Detroit Institute of Arts (DIA) settlement, fully preserving the DIA art collection for the People of Michigan. The settlement, which is a necessary element of the city of Detroit's bankruptcy plan, requires that the DIA assets be transferred to the DIA Corporation, the charitable corporation that originally founded the museum, where they will "be held in perpetual charitable trust."
"I am happy to approve the DIA settlement," Schuette states in a letter addressed to the Honorable Steven W. Rhodes. Schuette continued, "This result – a result made possible through the generous contributions of local and national foundations, the DIA and the State of Michigan – is an excellent one. Nearly 130 years ago, the DIA began as a nonprofit corporation with the charitable purpose of the public display of art. As required by Michigan law, the DIA Settlement continues the museum's charitable purpose and thereby preserves Michigan's world-class art collection for current and future generations of Michigan citizens."
The DIA settlement accords with Attorney General Opinion #7272, issued by Schuette in June 2013 to address the legal status of the DIA's art collection. In the Opinion, Schuette concluded: "The art collection of the Detroit Institute of Arts is held by the City of Detroit in charitable trust for the people of Michigan, and no piece in the collection may thus be sold, conveyed, or transferred to satisfy City debts or obligations."