Assembly Bill A379

2019-2020 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

download bill text pdf

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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

2019-A379 (ACTIVE) - Details

See Senate Version of this Bill:
S5384
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Limited Liability Company Law
Laws Affected:
Amd §203, Lim Lil L; add §139-m, St Fin L
Versions Introduced in Other Legislative Sessions:
2015-2016: A9670
2017-2018: A1917
2021-2022: S3665

2019-A379 (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.

2019-A379 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    379
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 9, 2019
                                ___________
 
 Introduced  by  M.  of  A.  LIFTON,  GOTTFRIED,  SIMON  -- 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.