<?xml version='1.0' encoding='utf-8'?>
<section article="gcl" article_name="Commercial Law" number="6-107" title_number="6" title_name="Bulk Transfers" subtitle_number="1">
  <level label="1">
    <text>The notice to creditors (§ 6-105) shall state:</text>
    <level label="a">
      <text>That a bulk transfer is about to be made; and</text>
    </level>
    <level label="b">
      <text>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</text>
    </level>
    <level label="c">
      <text>Whether or not all the debts of the transferor are to be paid in full as they fall due as a result of the transaction, and if so, the address to which creditors should send their bills.</text>
    </level>
  </level>
  <level label="2">
    <text>If the debts of the transferor are not to be paid in full as they fall due or if the transferee is in doubt on that point then the notice shall state further:</text>
    <level label="a">
      <text>The location and general description of the property to be transferred and the estimated total of the transferor’s debts;</text>
    </level>
    <level label="b">
      <text>The address where the schedule of property and list of creditors (§ 6-104) may be inspected;</text>
    </level>
    <level label="c">
      <text>Whether the transfer is to pay existing debts and if so the amount of such debts and to whom owing;</text>
    </level>
    <level label="d">
      <text>Whether the transfer is for new consideration and if so the amount of such consideration and the time and place of payment; and</text>
    </level>
    <level label="e">
      <text>If for new consideration the time and place where creditors of the transferor are to file their claims.</text>
    </level>
  </level>
  <level label="3">
    <text>The notice in any case shall be delivered personally or sent by registered or certified mail to:</text>
    <level label="a">
      <text>The Comptroller;</text>
    </level>
    <level label="b">
      <text>All the persons shown on the list of creditors furnished by the transferor (§ 6-104); and</text>
    </level>
    <level label="c">
      <text>All other persons who are known to the transferee to hold or assert claims against the transferor.</text>
    </level>
  </level>
</section>
