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What is the new LLC law in NY?

The new LLC Transparency Act will give law enforcement and State regulators the tools they need to hold bad actors accountable. Legislation S. 995B/A. 3484 creates an LLC beneficial ownership database that can be accessed by Federal, State and local government law enforcement across New York State.

Does a NY LLC need an operating agreement?

The members of an LLC are required to adopt a written Operating Agreement. See Section 417 of the Limited Liability Company Law. The Operating Agreement may be entered into before, at the time of, or within 90 days after the filing of the Articles of Organization.

What is DOS ID number New York?

This confirms your LLC is now a legally formed business in the State of New York. Your Filing Receipt will contain your LLCs name, the date filed, and your Department of State ID Number (also known as your DOS ID Number). Your DOS ID Number is unique to your LLC and you will use it when dealing with the State.

What is Section 1203 of the New York limited liability company Law?

Section 1203(b) of the Limited Liability Company Law requires that the articles of organization of a professional service limited liability company must meet the requirements of this chapter and must state the profession or professions to be practiced by such limited liability company and (A) the names, New York State

What is Section 1003 of the New York limited liability company Law?

Section 1003 of the New York State Limited Liability Company Law permits the merger or consolidation of limited liability companies with other limited liability companies and/or other business entities.

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