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The material explains formation and operation of an LLC, including the Articles of Organization and Operating Agreement filing requirements, required publication notice, amendments procedures, and the Secretary of State’s role for service of process. It also covers management by members or managers, voting thresholds, quorum and meeting requirements, and the contents required in the Operating Agreement.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":51,"@type":70,"position":76},"https://docshare.wps.com/template/general/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/chapter-526-of-the-laws-of-1994-limited-liability-company-law-llc-chapter-34-of-the-consolidated-laws-effective-october-24-1994/282713/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/chapter-526-of-the-laws-of-1994-limited-liability-company-law-llc-chapter-34-of-the-consolidated-laws-effective-october-24-1994/282713.png","ImageObject",442,249,{"name":88,"@type":89},"Anda","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-09-23","2026-09-16",true,{"@type":98,"interactionType":99,"userInteractionCount":9},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What does the chapter introduce regarding LLCs effective October 24, 1994?","Question",{"text":108,"@type":109},"It establishes rules for forming and operating limited liability companies (LLCs), including professional limited liability companies (PLLCs) and limited liability partnerships (LLPs) available to certain professionals.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"How is an LLC formed under the described law?",{"text":113,"@type":109},"An LLC is formed by filing properly executed Articles of Organization and an Operating Agreement with the Department of State, with specified contents required in the Articles.",{"name":115,"@type":106,"acceptedAnswer":116},"Who is designated for service of process, and what records are maintained?",{"text":117,"@type":109},"Every LLC must designate the Secretary of State as agent for service of process; process may also be served on a registered agent if designated. The Secretary of State keeps a record of each process served pursuant to law.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},282713,1790177091,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":50,"category_name":51,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":73,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":15,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":79},962075006959,"https://ap-avatar.wpscdn.com/avatar/e0002397efbe92a78e?_k=1776741047341049297","!  \nDATE12/07/94  \nTO:REF ATTORNEYS,PARALEGALS&LAW STUDENTSPOM MARY SABATINI DISTEPHAN OnRgn△   \n# CHAPTER 526 OF THE LAWS OF 1994\n\ni:  \n# LIMITED LIABILITY COMPANY LAW(\"LLC\")   CHAPTER 34OE THE CONSOLIDATEDIAWS                \n\nAttached is a brief overview of the new Limited Liability Company Law aspromised by my October memo.Ihad intended to outline the statute in detailbut since it is more than 100 single-spaced pages,I thought it might be better(and faster)to give you an overview,which for most purposes,should suffice.i am,however,outlining the statute in detail and will distribute it to those ofyou who express an interest.Those who requested a copy of the statute willreceive it as soon as they are delivered to the library.  \nThe new statute,effective October 24,1994,provides for the formationof the limited liability company(\"LLC\"),the professional limited liability company(\"PLLC\"),and the limited liability partnership(\"LLP\")which is available tocertain professionals.   As you will see,these entities resemble bothcorporations and limlted partnerships with regard to filing requirements,legaldocumentation and notices required.They generally¹have the tax advantagesof a partnership(no double taxation)while offering the safety of a corporation(a participant's liability is limited to his or her stake in the business).When anLLC is a sponsor,the principals of the sponsor who need to sign thecertification (in addition to the sponsoring LLC itself)are those members whoare managing members as indicated in the Articles of Organization(resemblinga certificate of incorporation)and operating agreement(resembling a limitedpartnership agreement).That is,the members who play an active role mustsign as principals.This is the same rule as we presently apply for corporatesponsors.The names of all limited liability companies must contain the words\"Limited Liability Company\"or the abbreviation \"L.L.C.\"or \"LLC\".  \nThe LLC may also be used as the entity which owns the real property.The members then divide up the space by means of proprietary leases,whichresemble shareholders in cooperative corporations.This would appear tocircumvent the co-op problems of 216,maintain the ability to have a blanketmortgage while having the advantages of the condominium form of ownership.I am doing further research on this particularly with regard to IRC §216 tax  \n                                                 .  \n·problems and I shall keep you posted.  \nI am also attaching the memorandum submitted in support of this bill.It,too,gives an overview of the statute and explains its legislative intent.  \nIf there are any questions,please see me,and we'll try to find theanswers.I'm sure there will be many issues concerning these new entitieswhich will not be resolved until some time passes and there is a body ofcaselaw to which we can refer.In the meantime,I hope you find this beneficialnotwithstanding how abbreviated it is.  \n# LIMITED LIABILITY COMPANY(\"LLC\")LAWCHAPTER 34 OF THE CONSOLIDATEDLAWSEFFECTIVE OCTOBER 24,1994\n\n## ARTICLEI-SHORT TITLE AND DEFINITIONS\n\nThe short title is the \"New York Limited Liability Company Law\".There are 34 definitions to which one may refer.  \n## ARTICLE I-FORMATION\n\nThis article generally indicates the purposes for which an LLC may beformed and its powers all of which are similar to corporations.It also explainshow LLCs are formed:by filing properly executed Articles of Organization andOperating Agreement with the Department of State.Section 206 indicates whatmust be set forth in the Articles (name,county of office,date of dissolution orevents of dissolution,designation of Secretary of State as agent for service ofprocess,name and address of registered agent,if any,whether the LLC will bemanaged by one or more members or classes of members or managers,whois liable,etc.).Within 120 days after effectiveness of the Articles,a copy or anotice must be published once a week for six weeks in two newspapers of thecounty where the LLC office is","cbCaiu39YGLk8sTy","https://ap.wps.com/l/cbCaiu39YGLk8sTy","pdf",611502,"English","# ARTICLE I - SHORT TITLE AND DEFINITIONS\n# ARTICLE II - FORMATION\n# ARTICLE III - SERVICE OF PROCESS\n# ARTICLE IV - MANAGEMENT BY MEMBERS OR MANAGERS","[{\"question\":\"What does the chapter introduce regarding LLCs effective October 24, 1994?\",\"answer\":\"It establishes rules for forming and operating limited liability companies (LLCs), including professional limited liability companies (PLLCs) and limited liability partnerships (LLPs) available to certain professionals.\"},{\"question\":\"How is an LLC formed under the described law?\",\"answer\":\"An LLC is formed by filing properly executed Articles of Organization and an Operating Agreement with the Department of State, with specified contents required in the Articles.\"},{\"question\":\"Who is designated for service of process, and what records are maintained?\",\"answer\":\"Every LLC must designate the Secretary of State as agent for service of process; process may also be served on a registered agent if designated. The Secretary of State keeps a record of each process served pursuant to law.\"}]","CHAPTER 526 OF THE LAWS OF 1994 - LIMITED LIABILITY COMPANY LAW (LLC) CHAPTER 34 OF THE CONSOLIDATED LAWS - EFFECTIVE OCTOBER 24, 1994 | PDF",1789580677]