New York A07223 amends the public authorities law to require explanatory statements for property disposals to include the names of all beneficial.

New York A07223 amends the public authorities law by adding a new subparagraph to section 2897. This amendment mandates that explanatory statements regarding the disposal of property must include the names of all beneficial owners of the entity to which the property is being transferred. The term "beneficial owner" is defined as an individual who, directly or indirectly, owns any equity interest of an entity or has control over its funds or assets, enabling them to manage or direct the entity.

New York A07223 amends the public authorities law to require explanatory statements for property disposals to include the names of all beneficial.

New York A07223 amends the public authorities law by adding a new subparagraph to section 2897. This amendment mandates that explanatory statements regarding the disposal of property must include the names of all beneficial owners of the entity to which the property is being transferred. The term "beneficial owner" is defined as an individual who, directly or indirectly, owns any equity interest of an entity or has control over its funds or assets, enabling them to manage or direct the entity.