J. MILLARD TAWES, Governor                      883

(b)  the parties prepare a schedule of the property transferred
sufficient to identify it; and

(c)  the transferee preserves the list and schedule for six months
next following the transfer and permits inspection of either or both
and copying therefrom at all reasonable hours by any creditor of the
transferor, or files the list and schedule in the office of the clerk of
the Circuit Court in the county, or of Superior Court of Baltimore
City, in which the property was located at the time of transfer.

(2)  The list of creditors must be signed and sworn to or affirmed
by the transferor or his agent. It must contain the names and busi-
ness addresses of all creditors of the transferor, with the amounts
when known, and also the names of all persons who are known to
the transferor to assert claims against him even though such claims
are disputed. If the transferor is the obligor of an outstanding issue
of bonds, debentures or the like as to which there is an indenture
trustee, the list of creditors need include only the name and address
of the indenture trustee and the aggregate outstanding principle
amount of the issue.

(3)  Responsibility for the completeness and accuracy of the list
of creditors rests on the transferor, and the transfer is not rendered
ineffective by errors or omissions therein unless the transferee is
shown to have had knowledge.

6—105. Notice to Creditors.

In addition to the requirements of the preceding Section any bulk
transfer subject to this Sub-title except one made by auction sale
(Section 6—108) is ineffective against any creditor of the transferor
unless at least ten days before he takes possession of the goods or
pays for them, whichever happens first, the transferee gives notice
of the transfer in the manner and to the persons hereafter provided
(Section 6—107).

6—106. Application of the Proceeds.

In addition to the requirements of the two preceding Sections:

(1)   Upon every bulk transfer subject to this Sub-title for which
new consideration becomes payable except those made by sale at
auction it is the duty of the transferee to assure that such considera-
tion is applied so far as necessary to pay those debts of the transferor
which are either shown on the list furnished by the transferor (Sec-
tion 6—104) or filed in writing in the place stated in the notice
(Section 6—107) within thirty days after the mailing of such notice.
This duty of the transferee runs to all the holders of such debts, and
may be enforced by any of them for the benefit of all.

(2)  If any of said debts are in dispute the necessary sum may be
withheld from distribution until the dispute is settled or adjudicated.

(3)  If the consideration payable is not enough to pay all of the
said debts in full distribution shall be made pro rata.

(4) The transferee may within ten days after he takes possession
of the goods file a petition in the Circuit Court for the County in
which the place of business of the transferor is situated or in the
Circuit Court or Circuit Court No. 2 of Baltimore City in case the