WILLIAM DONALD SCHAEFER, Governor                   Ch. 282

(c) Assure that the net proceeds of the auction are
applied as provided in this 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 them 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.

Article - Tax - General

11-505.

(a)   [In this section, "bulk sale" means an assignment,
sale, or transfer in which any part of the whole of a stock of
merchandise or fixtures or both that relate to the conduct of the
business of the vendor, transferor, or assignor is sold other
than in the ordinary course of trade or in the regular
prosecution of business.

(b)  An assignee, buyer, or transferee shall mail to the
Comptroller a notice of a proposed bulk sale by certified mail at
least 10 days before the buyer:

(1)  takes possession of the tangible personal
property sold; or

(2)  pays for the tangible personal property sold.

(c)  The notice of bulk sale under subsection (b) of this
section shall:

(1)  state the price, terms, and conditions of the
proposed sale; and

(2)  be mailed to the Comptroller whether or not the
vendor, transferor, or assignor:

(i) represents to or informs the buyer that the
vendor, transferor, or assignor owes any sales and use tax; or

(ii)] A TRANSFEREE OR AUCTIONEER IN A BULK
TRANSFER, AS DEFINED IN § 6-10 2 OF THE COMMERCIAL LAW ARTICLE,
SHALL MAIL TO THE COMPTROLLER THE NOTICE TO CREDITORS, AS
REQUIRED IN §§ 6-107 AND 6-108 OF THE COMMERCIAL LAW ARTICLE,
WHETHER OR NOT:

(1) THE TRANSFEROR LISTS THE COMPTROLLER AS A
CREDITOR; OR

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