216

LAWS OF MARYLAND

[Ch. 49

TITLE are all those whose principal business is the sale
of merchandise from stock, including those who
manufacture what they sell.

(4) Except as limited by the following section all
bulk transfers of goods located within this State are
subject to this [subtitle] TITLE.

6—103. Transfers excepted from this [subtitle] TITLE.

The following transfers are not subject to this
[subtitle] TITLE:

(1)   Those made to give security for the performance
of an obligation;

(2)   General assignments for the benefit of all the
creditors of the transferor, and subsequent transfers by
the assignee thereunder;

(3)   Transfers in settlement or realization of a
lien or other security interest;

(4)    Sale by executors, administrators, receivers,
trustees in bankruptcy, or any public officer under
judicial process;

(5)    Sales made in the course of judicial or
administrative proceedings for the dissolution or
reorganization of a corporation and of which notice is
sent to the creditors of the corporation pursuant to
order of the court or administrative agency;

(6)   Transfers to a person maintaining a known place
of business in this State who becomes bound to pay the
debts of the transferor in full and gives public notice
of that fact, and who is solvent after becoming so bound;

(7)     A transfer to a new business enterprise
organized to take over and continue the business, if
public notice of the transaction is given and the new
enterprise assumes the debts of the transferor and he
receives nothing from the transaction except an interest
in the new enterprise junior to the claims of creditors;

(8)    Transfers of property which is exempt from
execution.

(9)    Public notice under subsection (6) or
subsection (7) may be given by publishing once a week for
two consecutive weeks in a newspaper of general
circulation where the transferor had its principal place
of business in this State an advertisement including the
names and addresses of the transferor and transferee and