NASHVILLE, Tenn. ? Fisk University's decade-long quest to generate cash from a 101-piece art collection donated by the late painter Georgia O'Keeffe is one step closer to fruition.
But it is unclear how quickly the historically black university in Nashville will be able to complete a $30 million deal to sell a 50 percent stake in the collection to the Crystal Bridges Museum in Bentonville, Ark. The artworks would move between Fisk and the museum every two years.
An appeals court ruling Tuesday threw out a judge's requirement for Fisk to reserve two-thirds of the proceeds to pay for future upkeep of the collection.
The state attorney general's office, which has fought to keep the collection from leaving Nashville, has not yet decided whether to seek an appeal to the state Supreme Court.
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