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1929 Supplement to the Annotated Code of the Public General Laws of Maryland
Volume 376, Page 556   View pdf image (33K)
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556 ARTICLE 83.

and, in addition, any property transferred in violation of the provisions
of Section 100 to Section 104 hereof, both included, shall be subject to at-
tachment in an action brought by any creditor of the vendor. Provided,
however, that if the vendor and/or any creditor of said vendor whether
listed on the statement aforesaid or not shall object to the schedule of dis-
tribution of the proceeds of said sale by paper writing delivered to the pur-
chaser prior to the time set for said sale, then the said purchaser or agent,
may within ten. days after the consummation of said sale, file a petition in
the Circuit Court for the county in which the place of business of the ven-
dor is situated (or in the Circuit Court or Circuit1 No. 2 of Baltimore
City, in case the place of business of the vendor is situated in Balti-
more City) asking that a receiver or receivers be appointed by said Court
to take charge of the distribution of the agreed purchase price; and if said
receivership is granted then said receiver or receivers, upon qualification
by filing an approved bond in the amount fixed by the Court, shall be en-
titled to the custody and distribution of the agreed purchase price under
orders of the Court as in other receiverships. And said purchaser with
whom such written objection is filed within the period aforesaid, or prior
to the paying of the agreed purchase price, shall not pay over said agreed
purchase price except to the receiver appointed hereunder, unless and until
the petition for the receiver has been denied by the Court. If there is no
objection on the part, of anyone interested, or if the receivership peti-
tion is refused, the purchaser shall be liable to the subsisting creditors of
the vendor, as a trustee, for the agreed purchase price of all the property
so bought by him, and may make distribution of the unpaid portion of
the purchase price in accordance with the statement furnished as aforesaid.
And provided further, that no proceeding at law or equity shall be brought
against the purchaser to invalidate any such sale after the expiration of
ninety (90) days from the consummation thereof. Nothing herein con-
tained shall prevent or hinder the vendor from demanding and receiving
security from any purchaser or requiring a deposit, not to exceed ten (10)
per cent of the purchase price, to insure faithful performance of the con-
tract, agreeable to the provisions of this sub-title, prior to furnishing the
list of creditors as hereinbefore set forth.

See notes to sec. 100 and to art. 66. sec. 31.

An. Code, 1924, sec. 102. 1912, sec. 102. 1912, ch. 451, sec. 100.
1927, ch. 534, sec. 102.

102. Any sale or transfer of a stock of goods, wares or merchandise out
of the usual or ordinary course of the business (in the trade) of the ven-
dor, or whenever thereby substantially the entire business (trade) thereto-
fore conducted by the vendor shall be sold or conveyed, or attempted to be
sold or conveyed, to one or more persons, shall be deemed a sale or transfer
in bulk, in contemplation of this law. Provided, however, that if such
vendor produces and delivers a written waiver of the provisions of this
sub-title from his creditors as shown by such verified statement, or provided

1 This is just as it appears in the act.


 

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1929 Supplement to the Annotated Code of the Public General Laws of Maryland
Volume 376, Page 556   View pdf image (33K)
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