A. If any seller sells, assigns, transfers, conveys, leases, forfeits, or abandons the business to another person, including a creditor or a secured party, the seller shall make a final sales tax return within 15 days after the date of selling, assigning, transferring, conveying, leasing, forfeiting or abandoning the business showing that all tax obligations required by this chapter have been paid. The purchaser, successor, transferee, lessee, assignee, creditor, or secured party shall withhold a sufficient portion of the purchase money, if any, to safely cover the amount of such sales taxes, penalties and interest as may be due and unpaid to the borough.

B. If any purchaser, assignee, transferee, lessee, successor, creditor, or secured party of a business fails to withhold from the purchase money, or fails to otherwise provide for or make the payment of taxes, interest and penalty owed by the business as provided in this chapter, a person with signatory authority over the seller’s savings and checking accounts, and the purchaser, assignee, transferee, lessee, successor, creditor, or secured party, shall be personally liable for the payment of the taxes, penalties, and interest accruing and unpaid to the borough on account of the operation of the business by any former owner, owners, operators or assigns.