New York A08662 amends definitions of "beneficial owner," "reporting company," and "exempt company" for limited liability companies.

New York A08662 amends the definitions of "beneficial owner," "reporting company," and "exempt company" to clarify the scope of certain provisions related to beneficial owners of limited liability companies. It also authorizes the Department of State to further clarify these definitions. The bill specifies conditions for entities to be considered exempt, such as not being highly useful for national security or law enforcement efforts.

New York A08662 amends definitions of "beneficial owner," "reporting company," and "exempt company" for limited liability companies.

New York A08662 amends the definitions of "beneficial owner," "reporting company," and "exempt company" to clarify the scope of certain provisions related to beneficial owners of limited liability companies. It also authorizes the Department of State to further clarify these definitions. The bill specifies conditions for entities to be considered exempt, such as not being highly useful for national security or law enforcement efforts.