MARVIN MANDEL, Governor

217

the effective date of the transfer.

6-104. Schedule of property; list of creditors.

(1) Except as provided with respect to auction
sales (§ 6—108), a bulk transfer subject to this
[subtitle] TITLE is ineffective against any creditor of
the transferor unless:

(a)   The transferee requires the transferor to
furnish a list of his existing creditors prepared as
stated in this section; and

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

(c)   The transferee preserves the list and
schedule [of] 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 business 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 principal
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 [subtitle]
TITLE except one wade by auction sale (§ 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 then, whichever happens first, the transferee
gives notice of the transfer in the manner and to the
persons hereafter provided (§ 6—107).