Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to corporations, authorities and commissions |
Jan 23, 2017 |
referred to corporations, authorities and commissions |
Senate Bill S3383
2017-2018 Legislative Session
Sponsored By
(R, C) 60th Senate District
Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions 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
Actions
2017-S3383 (ACTIVE) - Details
- Current Committee:
- Senate Corporations, Authorities And Commissions
- Law Section:
- Limited Liability Company Law
- Laws Affected:
- Amd §§201 & 203, Lim Lil L; amd §§14-102 & 14-104, El L
- Versions Introduced in Other Legislative Sessions:
-
2015-2016:
S8035
2019-2020: S1898
2021-2022: S2637
2017-S3383 (ACTIVE) - Sponsor Memo
BILL NUMBER: S3383 TITLE OF BILL : An act to amend the limited liability company law and the election law, in relation to political contributions and expenditures by limited liability companies and other entities PURPOSE : To require that limited liability companies (LLCs) not be formed solely for the purpose of making political contributions; to identify out of state LLCs; and to reveal an individual associated with an LLC when such companies make contributions to political candidates or campaign committees. SUMMARY OF PROVISIONS : Section 1 of the bill restricts LLCs from being established wholly to make political campaign contributions. Section 2 requires out of state LLCs to register with New York State Sections 3 and 4 require the disclosure of individuals associated with an LLC when filing statutorily required campaign financial statements with the board of elections. Section 5 sets forth the effective date.
2017-S3383 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3383 2017-2018 Regular Sessions I N S E N A T E January 23, 2017 ___________ Introduced by Sen. GALLIVAN -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the limited liability company law and the election law, in relation to political contributions and expenditures by limited liability companies and other entities THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 201 of the limited liability company law is amended to read as follows: § 201. Purpose. A limited liability company may be formed under this chapter for any lawful business purpose or purposes except to do in this state any business for which another statute specifically requires some other business entity or natural person to be formed or used for such business; OR FORMED OR USED FOR THE SOLE PURPOSE OF MAKING POLITICAL CONTRIBUTIONS OR EXPENDITURES UNLESS REGISTERED AS A POLITICAL COMMITTEE OR INDEPENDENT EXPENDITURE COMMITTEE WITH THE BOARD OF ELECTIONS. § 2. 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 and a new paragraph 8 is added 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) 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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