Assembly Bill A9670A

2015-2016 Legislative Session

Requires that the identity of all direct and indirect owners of the membership interests in a limited liability company be included in the articles of organization and in state contracts

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Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

co-Sponsors

multi-Sponsors

2015-A9670 - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Limited Liability Company Law
Laws Affected:
Amd §203, Lim Lil L; add §139-l, St Fin L
Versions Introduced in Other Legislative Sessions:
2017-2018: A1917
2019-2020: A379

2015-A9670 - Summary

Requires that the identity of all direct and indirect owners of the membership interests in a limited liability company be included in the articles of organization and in state contracts.

2015-A9670 - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  9670

                          I N  A S S E M B L Y

                             March 28, 2016
                               ___________

Introduced by M. of A. LIFTON -- read once and referred to the Committee
  on Corporations, Authorities and Commissions

AN  ACT to amend the limited liability company law and the state finance
  law, in relation to requiring the inclusion of  the  identity  of  all
  direct  and  indirect  owners of the membership interests in a limited
  liability company  in  the  articles  of  organization  and  in  state
  contracts

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraphs 6 and 7 of subdivision (e) of section 203 of the
limited liability company law, as added by chapter 470 of  the  laws  of
1997, are amended to read as follows:
  (6)  if all or specified members are to be liable in their capacity as
members for all or specified debts, obligations or  liabilities  of  the
limited  liability company as authorized pursuant to section six hundred
nine of this chapter, a statement that all or specified members  are  so
liable  for  such debts, obligations or liabilities in their capacity as
members of the limited  liability  company  as  authorized  pursuant  to
section six hundred nine of this chapter; [and]
  (7)  THE  IDENTITY OF ALL DIRECT AND INDIRECT OWNERS OF THE MEMBERSHIP
INTERESTS IN THE LIMITED LIABILITY COMPANY AND THE  PROPORTION  OF  EACH
DIRECT  OR INDIRECT MEMBER'S OWNERSHIP INTEREST IN THE LIMITED LIABILITY
COMPANY; AND
  (8) any other provisions, not inconsistent with law, that the  members
elect  to  include in the articles or organization for the regulation of
the internal affairs of the limited liability  company,  including,  but
not limited to, (A) the business purpose for which the limited liability
company  is  formed, (B) a statement of whether there are limitations on
the authority of members or managers or a class or  classes  thereof  to
bind  the  limited  liability  company  and  (C) any provisions that are
required or permitted to be included in the operating agreement  of  the
limited  liability company pursuant to section four hundred seventeen of
this chapter.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14532-02-6

co-Sponsors

multi-Sponsors

2015-A9670A (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Limited Liability Company Law
Laws Affected:
Amd §203, Lim Lil L; add §139-l, St Fin L
Versions Introduced in Other Legislative Sessions:
2017-2018: A1917
2019-2020: A379

2015-A9670A (ACTIVE) - Summary

Requires that the identity of all direct and indirect owners of the membership interests in a limited liability company be included in the articles of organization and in state contracts.

2015-A9670A (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 9670--A

                          I N  A S S E M B L Y

                             March 28, 2016
                               ___________

Introduced by M. of A. LIFTON, GOTTFRIED, SIMON -- Multi-Sponsored by --
  M.  of A.  TITONE -- read once and referred to the Committee on Corpo-
  rations, Authorities and Commissions  --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to amend the limited liability company law and the state  finance
  law,  in  relation  to  requiring the inclusion of the identity of all
  direct and indirect owners of the membership interests  in  a  limited
  liability  company  in  the  articles  of  organization  and  in state
  contracts

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraphs 6 and 7 of subdivision (e) of section 203 of the
limited  liability  company  law, as added by chapter 470 of the laws of
1997, are amended to read as follows:
  (6) if all or specified members are to be liable in their capacity  as
members  for  all  or specified debts, obligations or liabilities of the
limited liability company as authorized pursuant to section six  hundred
nine  of  this chapter, a statement that all or specified members are so
liable for such debts, obligations or liabilities in their  capacity  as
members  of  the  limited  liability  company  as authorized pursuant to
section six hundred nine of this chapter; [and]
  (7) THE IDENTITY OF ALL DIRECT AND INDIRECT OWNERS OF  THE  MEMBERSHIP
INTERESTS  IN  THE  LIMITED LIABILITY COMPANY AND THE PROPORTION OF EACH
DIRECT OR INDIRECT MEMBER'S OWNERSHIP INTEREST IN THE LIMITED  LIABILITY
COMPANY; AND
  (8)  any other provisions, not inconsistent with law, that the members
elect to include in the articles or organization for the  regulation  of
the  internal  affairs  of the limited liability company, including, but
not limited to, (A) the business purpose for which the limited liability
company is formed, (B) a statement of whether there are  limitations  on
the  authority  of  members or managers or a class or classes thereof to
bind the limited liability company  and  (C)  any  provisions  that  are
required  or  permitted to be included in the operating agreement of the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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