220

LAWS OF MARYLAND

[Ch. 49

(a)    Receive and retain the list of creditors
and prepare and retain the schedule of property for the
period stated in this [subtitle] TITLE (§ 6—104);

(b)    Give notice of the auction personally or
by registered or certified mail at least ten days before
it occurs to all persons shown on the list of creditors
and to all other persons who are known to him to hold or
assert claims against the transferor; and

(c)    assure that the net proceeds of the
auction are applied as provided in this [subtitle] TITLE
(§ 6-106).

(4) Failure of the auctioneer to perform any of
these duties does not affect the validity of the sale or
the title of the purchasers, but if the auctioneer knows
that the auction constitutes a bulk transfer such failure
renders the auctioneer liable to the creditors of the
transferor as a class for the sums owing to then from the
transferor up to but not exceeding the net proceeds of
the auction. If the auctioneer consists of several
persons their liability is joint and several.

6—109. What creditors protected.

The creditors of the transferor mentioned in this
[subtitle] TITLE are those holding claims based on
transactions or events occurring before the bulk
transfer, but creditors who become such after notice to
creditors is given (§§ 6—105 and 6—107) are not entitled
to notice.

6—110. Subsequent transfers.

When the title of a transferee to property is
subject to a defect by reason of his noncompliance with
the requirements of this [subtitle] TITLE, then:

(1)   A purchaser of any of such property from such
transferee who pays no value or who takes with notice of
such noncompliance takes subject to such defect, but

(2)   A purchaser for value in good faith and without
such notice takes free of such defect.

6—111. Limitation of actions and levies.

No action under this [subtitle] TITLE shall be
brought nor levy made more than six months after the date
on which the transferee took possession of the goods
unless the transfer has been concealed. If the transfer
has been concealed actions may be brought or levies made
within six months after its discovery.