218

LAWS OF MARYLAND

[Ch. 49

6—106. Application of the proceeds.

In addition to the requirements of the two preceding
sections:

(1)    Upon every bulk transfer subject to this
[subtitle] TITLE for which new consideration becomes
payable except those wade by sale at auction it is the
duty of the transferee to assure that such consideration
is applied so far as necessary to pay those debts of the
transferor which are either shown on the list furnished
by the transferor (§ 6—104) or filed in writing in the
place stated in the notice (§ 6-107) within thirty days
after the sailing of such notice. This duty of the
transferee runs to all the holders of such debts, and way
be enforced by any of then 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 place of business of the transferor is situated in
Baltimore City and pay the consideration into such court
asking that a receiver or receivers 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 receiverships.

6—107. The notice.

(1) The notice to creditors (§ 6—105) shall state:

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

(b)    The names and business addresses of the
transferor and transferee, and all other business names