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Session Laws, 1963
Volume 671, Page 882   View pdf image (33K)
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884                               LAWS OF MARYLAND                        [CH. 538

place of business of the transferor is situated in Baltimore City and
pay the consideration into such Court asking that a receiver or re-
ceivers be appointed by said Court to take charge of the distribution
of the agreed purchase price and the transferee may discharge his
duty under this Section by giving notice by registered or certified
mail to all the persons to whom the duty runs that the consideration
has been paid into that Court and that they should file their claims
there. 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 entitled to the custody and distribution of the
agreed purchase price under orders of the Court as in other receiver-
ships.

6—107. The Notice.

(1)   The notice to creditors (Section 6105) shall state:

(a)  that a bulk transfer is about to be made; and

(b)  the names and business addresses of the transferor and trans-
feree, and all other business names and addresses used by the trans-
feror within three years last past so far as known to the transferee;
and

(c)  whether or not all the debts of the transferor are to be paid
in full as they fall due as a result of the transaction, and if so, the
address to which creditors should send their bills.

(2)  If the debts of the transferor are not to be paid in full as they
fall due or if the transferee is in doubt on that point then the notice
shall state further:

(a)  the location and general description of the property to be
transferred and the estimated total of the transferor's debts;

(b)  the address where the schedule of property and list of creditors
(Section 6
104) may be inspected;

(c)  whether the transfer is to pay existing debts and if so the
amount of such debts and to whom owing;

(d)  whether the transfer is for new consideration and if so the
amount of such consideration and the time and place of payment; and

(e)  if for new consideration the time and place where creditors
of the transferor are to file their claims.

(3)   The notice in any case shall be delivered personally or sent by
registered or certified mail to all the persons shown on the list of
creditors furnished by the transferor (Section 6
104) and to all
other persons who are known to the transferee to hold or assert
claims against the transferor.

6108. Auction Sales; "Auctioneer".

(1)  A bulk transfer is subject to this Sub-title even though it is
by sale at auction, but only in the manner and with the results stated
in this section.

(2)  The transferor shall furnish a list of his creditors and assist

 

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Session Laws, 1963
Volume 671, Page 882   View pdf image (33K)
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