Section 1106 - [Effective 1/1/2026] Definitions For the purposes of this section and sections eleven hundred seven and eleven hundred eight of this article:
(a) "Beneficial owner" shall have the same meaning as defined in 31 U.S.C. § 5336(a)(3), as amended, and any regulations promulgated thereunder.(b) "Reporting company" shall have the same meaning as defined in 31 U.S.C. § 5336(a)(11), as amended, and any regulations promulgated thereunder, but shall only include limited liability companies formed or authorized to do business in New York state.(c) "Exempt company" shall mean a limited liability company or foreign limited liability company not otherwise defined as a reporting company that meets a condition for exemption enumerated in 31 U.S.C. § 5336(a)(11)(B).(d) "Applicant" shall have the same meaning as defined in 31 U.S.C. § 5336(a)(2), as amended, and any regulations promulgated thereunder, but shall only include those relating to limited liability companies.N.Y. Limited Liability Company Law Law § 1106
Added by New York Laws 2024, ch. 102,Sec. 1, eff. 1/1/2026.