N.Y. Limited Liability Company Law Section 1106
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. * NB Effective January 1, 2026

Source: Section 1106 — Definitions, https://www.­nysenate.­gov/legislation/laws/LLC/1106 (updated Mar. 8, 2024; accessed Feb. 28, 2026).

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Verified:
Feb. 28, 2026

Last modified:
Mar. 8, 2024

§ 1106. Definitions's source at nysenate​.gov

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