Section 6-101 – Short Title
This title shall be known and may be cited as Maryland Uniform Commercial Code — Bulk Transfers.
Section 6-102 – “Bulk Transfers”; Transfers of Equipment; Enterprises Subject to This Title; Bulk Transfers Subject to This Title
(1) A “bulk transfer” is any transfer in bulk and not in the ordinary course of the transferor’s business of a major part of the materials, supplies, merchandise or other inventory (§ 9-102) of an enterprise subject to this title. (2) A transfer of a substantial part of the equipment (§ 9-102) of such an enterprise is […]
Section 6-103 – Transfers Excepted From This Title
The following transfers are not subject to this 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, […]
Section 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 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 […]
Section 6-105 – Notice to Creditors
In addition to the requirements of the preceding section any bulk transfer subject to this title except one made 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 them, whichever happens first, the transferee gives notice […]
Section 6-106 – Application of the Proceeds
In addition to the requirements of the two preceding sections: (1) Upon every bulk transfer subject to this title for which new consideration becomes payable except those made 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 […]
Section 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 and addresses used by the transferor within three years last past so far as known to the transferee; and (c) Whether or not […]
Section 6-108 – Auction Sales; “Auctioneer”
(1) A bulk transfer is subject to this title even though it is by sale at auction, but only in the manner and with the results stated in this section. (2) The transferor shall furnish a list of his creditors and assist in the preparation of a schedule of the property to be sold, both prepared as […]
Section 6-109 – What Creditors Protected
The creditors of the transferor mentioned in this 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.
Section 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 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 […]
Section 6-111 – Limitation of Actions and Levies
No action under this 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.