Under the Maryland bulk sale statute, the purchaser of a business has a dual duty to first notify the seller’s creditors of the upcoming sale, and second, to ensure that any creditors of the seller are paid out of the proceeds of the sale. The purchaser must send out written notices to the seller’s creditors [...]
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The FTC adopted a new rule, known as the “Red Flags Rule” which requires many businesses and organizations that take payment by credit cards to implement a written identity theft prevention program to detect the warning signs of identity theft in their day-to-day operations. 16 CFR Part 681.
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