NY State Senate Bill 2017-S8213

Senate Bill S8213

2017-2018 Legislative Session

Requires domestic and foreign limited liability companies to amend their articles of organization to include a list of beneficial owners and to provide certain information relating to each beneficial owner

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Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Apr 18, 2018	referred to corporations, authorities and commissions

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2017-S8213 (ACTIVE) - Details

Current Committee:: Senate Corporations, Authorities And Commissions
Law Section:: Limited Liability Company Law
Laws Affected:: Amd §§102, 203, 209, 211, 802 & 804, add §§215 & 810, Lim Lil L
Versions Introduced in 2019-2020 Legislative Session:: S2255

2017-S8213 (ACTIVE) - Summary

Requires limited liability companies and foreign limited liability companies to amend their articles of organization to include a list of beneficial owners and to provide certain information relating to each beneficial owner.

2017-S8213 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S8213

SPONSOR: HOYLMAN
 
TITLE OF BILL:  An act to amend the limited liability company law, in
relation to requiring limited liability companies to amend their arti-
cles of organization to include a list of beneficial owners and provide
certain information relating to each beneficial owner

 
SUMMARY OF PROVISIONS:

Section 1 of the bill amends section 102 of the limited liability compa-
ny law by creating a new subdivision (d-1) defining the term "beneficial
owner." That term is defined in the bill as a natural person who direct-
ly or indirectly holds, or has been assigned, a membership interest in a
limited liability company or a foreign limited liability company. Bene-
ficial owners generally do not include minors, persons acting as nomi-
nees, intermediaries, custodians, or agents on behalf of another person,
persons acting solely as an employee of a limited liability company,
persons whose only interest in a limited liability company is through a
right of inheritance, or a creditor of the a limited liability company.

Section 2 of the bill amends section 203 of the limited liability compa-

ny law to require the articles of organization for LLCs organized in New
York State to include a list of the beneficial owners of the LLC, along
with addresses and a unique identifying number from a government-issued
ID card.

Section 3 of the bill amends section 209 of the limited liability compa-
ny law to direct the New York State Department of State to review LLCs'
articles of organization for legal sufficiency with regard to the bene-
ficial owner disclosure requirements of sections 203 and 211 of the
limited liability company law.

Section 4 of the bill amends section 211 of the limited liability compa-
ny law to require an LLC to amend its articles of organization no later
than ninety days after a change in the list of the LLC's beneficial
owners or a change in the information about the beneficial owners
required by section 203 of the limited liability company law.

Section 5 of the bill amends the limited liability company law by adding
a new section 215, which does the following:

-Requires LLCs whose articles of organization were filed with the New
York State Department of State prior to the effective date of this bill
to, within one year from the effective date of the bill, amend their
articles of organization to include a list of beneficial owners and the
information relating to each beneficial owner required by section 203 of
the limited liability company law.

-Requires LLCs organized in New York State to annually submit to the New
York State Department of State a list of the LLC's beneficial owners and
the information relating to each beneficial owner required by section
203 of the limited liability company law.

-Requires the New York State Department of State to establish and main-
tain an online database identifying LLCs' beneficial owners by name and
current residential or business address, if they are the beneficial
owners of two or more LLCs, for the duration of an LLC's organization in

New York State until five years from the date an LLC terminates its
articles of organization pursuant to New York State law.

-Provides that any person who knowingly provides false or fraudulent
beneficial ownership information, willfully fails to provide complete or
updated information, or discloses the existence of a subpoena, summons,
or other request for beneficial ownership information shall be liable to
the state for a civil penalty of up to $10,000 and may be imprisoned for
up to three years.

Section 6 of the bill amends section 802 of the limited liability compa-
ny law to require the application for authority to do business in New
York State for foreign LLCs to include a list of the beneficial owners
of the foreign LLC, along with addresses and a unique identifying number
from a government-issued ID card.

Section 7 of the bill amends section 804 of the limited liability compa-
ny law to require a foreign LLC authorized to do business in New York
State to amend its certificate of authority no later than ninety days
after a change in the list of the foreign LLC's beneficial owners or a
change in the information about the beneficial owners required by
section 802 of the limited liability company law.

Section 8 of the bill amends the limited liability company law by adding
a new section 810, which does the following:

-Requires foreign LLCs whose certificates of authority were filed with
the New York State Department of State prior to the effective date of
this bill to, within one year from the effective date of the bill, amend
their certificates of authority to include a list of beneficial owners
and the information relating to each beneficial owner required by
section 802 of the limited liability company law.

-Requires foreign LLCs authorized to do business in New York State to
annually submit to the New York State Department of State a list of the
foreign LLC's beneficial owners and the information relating to each
beneficial owner required by section 802 of the limited liability compa-
ny law.

-Requires the New York State Department of State to establish and main-
tain an online database identifying foreign LLCs' beneficial owners by
name and current residential or business address, if they are the bene-
ficial owners of two or more LLCs, for the duration of a foreign LLC's
authorization to do business in New York State until five years from the
date a foreign LLC surrenders its certificate of authority or dissolves
or terminates its existence pursuant to New York State law.

-Provides that any person who knowingly provides false or fraudulent
beneficial ownership information, willfully fails to provide complete or
updated information, or discloses the existence of a subpoena, summons,
or other request for beneficial ownership information shall be liable to
the state for a civil penalty of up to $10,000 and may be imprisoned for
up to three years.

Section 9 of the bill is the effective date.

 
JUSTIFICATION:

A limited liability company (LLC) is an unincorporated organization of
one or more persons that combines the limited liability typically
enjoyed by corporations with the flexibility that comes from a partner-
ship. In many states, LLC owners are afforded substantial anonymity. In
New York, reporting requirements are stunningly lax, with no requirement
that a domestic or foreign LLC doing business in the state disclose its
beneficial owners - the people who ultimately hold a membership interest
in an LLC.

The Department of State maintains a "Corporation and Business Entity
Database" on its website that allows users to search by business name
for corporations, not-for-profits, limited partnerships, LLCs, and other
miscellaneous businesses registered with the Department.  However, the
amount of information listed on each LLC is paltry, including the name
of the LLC, initial file date, whether it is currently active, the state
or county in which it is located, and a contact address for the purposes
of serving process.

While the vast majority of LLC owners are law-abiding business owners,
LLCs can also provide anonymity to embezzlers, traffickers, drug deal-
ers, tax evaders, terrorists, and others who wish to hide or obscure
illicit funds. Further, unscrupulous landlords can use LLCs to avoid
legal responsibilities, leaving tenants in the dark. Foreign money-laun-
dering schemes have involved the purchase of New York real estate
through LLCs. In addition, LLC owners can skirt campaign finance laws by
making anonymous "dark money" donations.

Obscuring the beneficial owners of an LLC does a disservice to law
enforcement, journalists, tax officials, and the public at large.

This bill requires LLCs organized or authorized to do business in New
York to publicly disclose a list of their beneficial owners to the
Department of State. Newly organized domestic LLCs and foreign LLCs
seeking authorization to do business in New York State would be required
to include the names, addresses, and identification numbers of their
beneficial owners when filing their articles of organization or applica-
tions for authority, and LLCs already authorized to do business in the
state would have one year from the bill's passage to amend their arti-
cles of organization or applications for authority to include informa-
tion about their beneficial owners. LLCs would be required to update the
Department of State within 90 days of any change to their list of bene-
ficial owners. The Department of State would have authority to review
this documentation and would make it publicly available on a website.

 
LEGISLATIVE HISTORY:

New bill.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2017-S8213 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8213
 
                             I N  S E N A T E
 
                              April 18, 2018
                                ___________
 
 Introduced  by  Sen. HOYLMAN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions
 
 AN  ACT  to  amend  the  limited  liability  company law, in relation to
   requiring limited liability  companies  to  amend  their  articles  of
   organization  to  include  a  list  of  beneficial  owners and provide
   certain information relating to each beneficial owner
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 102 of the limited liability company law is amended
 by adding a new subdivision (d-1) to read as follows:
   (D-1)  (1)  "BENEFICIAL OWNER" MEANS A NATURAL PERSON WHO, DIRECTLY OR
 INDIRECTLY, (A) HOLDS A  MEMBERSHIP  INTEREST  IN  A  LIMITED  LIABILITY
 COMPANY OR A FOREIGN LIMITED LIABILITY COMPANY; OR (B) HAS BEEN ASSIGNED
 A MEMBERSHIP INTEREST IN A LIMITED LIABILITY COMPANY OR A FOREIGN LIMIT-
 ED LIABILITY COMPANY.
   (2)  THE TERM "BENEFICIAL OWNER" SHALL NOT INCLUDE: (A) A MINOR CHILD;
 (B) A PERSON ACTING AS A NOMINEE, INTERMEDIARY, CUSTODIAN, OR  AGENT  ON
 BEHALF OF ANOTHER PERSON; (C) A PERSON ACTING SOLELY AS AN EMPLOYEE OF A
 LIMITED  LIABILITY  COMPANY  AND WHOSE CONTROL OVER OR ECONOMIC BENEFITS
 FROM THE LIMITED LIABILITY COMPANY DERIVES SOLELY  FROM  THE  EMPLOYMENT
 STATUS  OF  THE  PERSON;  (D)  A PERSON WHOSE ONLY INTEREST IN A LIMITED
 LIABILITY COMPANY IS THROUGH A RIGHT OF INHERITANCE, UNLESS  THE  PERSON
 ALSO MEETS THE REQUIREMENTS OF PARAGRAPH ONE OF THIS SUBDIVISION; OR (E)
 A  CREDITOR  OF  A  LIMITED  LIABILITY COMPANY, UNLESS THE CREDITOR ALSO
 MEETS THE REQUIREMENTS OF PARAGRAPH ONE OF THIS SUBDIVISION.
   § 2. Paragraphs 6 and 7 of subdivision  (e)  of  section  203  of  the
 limited  liability  company  law, as added by chapter 470 of the laws of
 1997, are amended to read as follows:
   (6) if all or specified members are to be liable in their capacity  as
 members  for  all  or specified debts, obligations or liabilities of the
 limited liability company as authorized pursuant to section six  hundred
 nine  of  this chapter, a statement that all or specified members are so
 liable for such debts, obligations or liabilities in their  capacity  as
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD10843-03-7

 S. 8213                             2
 
 members  of  the  limited  liability  company  as authorized pursuant to
 section six hundred nine of this chapter; [and]
   (7)  A  LIST OF THE BENEFICIAL OWNERS OF THE LIMITED LIABILITY COMPANY
 THAT IDENTIFIES EACH BENEFICIAL OWNER BY (A) NAME; (B) CURRENT  RESIDEN-
 TIAL  OR  BUSINESS  STREET  ADDRESS; AND (C) A UNIQUE IDENTIFYING NUMBER
 FROM A NON-EXPIRED PASSPORT ISSUED BY THE UNITED STATES OR A NON-EXPIRED
 DRIVER'S LICENSE OR IDENTIFICATION CARD ISSUED BY THIS OR ANOTHER STATE;
 AND
   (8) any other provisions, not inconsistent with law, that the  members
 elect  to  include in the articles or organization for the regulation of
 the internal affairs of the limited liability  company,  including,  but
 not limited to, (A) the business purpose for which the limited liability
 company  is  formed, (B) a statement of whether there are limitations on
 the authority of members or managers or a class or  classes  thereof  to
 bind  the  limited  liability  company  and  (C) any provisions that are
 required or permitted to be included in the operating agreement  of  the
 limited  liability company pursuant to section four hundred seventeen of
 this chapter.
   § 3. Section 209 of the limited liability company law  is  amended  to
 read as follows:
   §  209.  Filing  with  the  department  of state. A signed articles of
 organization and any signed certificate of amendment  or  other  certif-
 icates  filed  pursuant  to  this  chapter  or of any judicial decree of
 amendment or cancellation shall be delivered to the department of state.
 If the instrument that is delivered  to  the  department  of  state  for
 filing  complies  as to form with the requirements of law and the filing
 fee required by any statute of this state in  connection  therewith  has
 been  paid,  the instrument shall be filed and indexed by the department
 of state. The department of state shall  not  review  such  articles  or
 certificates  for  legal  sufficiency,  EXCEPT THAT IT SHALL REVIEW SUCH
 ARTICLES OR CERTIFICATES FOR LEGAL SUFFICIENCY WITH REGARD  TO  REQUIRE-
 MENTS  PERTAINING  TO BENEFICIAL OWNERS PURSUANT TO SECTIONS TWO HUNDRED
 THREE AND TWO HUNDRED ELEVEN OF THIS ARTICLE; its review shall be OTHER-
 WISE limited to determining that the form has been completed.
   § 4. Paragraphs 8 and 9 of subdivision  (d)  of  section  211  of  the
 limited liability company law are amended to read as follows:
   (8) the discovery of a materially false or inaccurate statement in the
 articles of organization; [and]
   (9)  A  CHANGE  IN  THE  LIST  OF BENEFICIAL OWNERS OR THE INFORMATION
 REQUIRED TO BE PROVIDED RELATING TO EACH BENEFICIAL  OWNER  PURSUANT  TO
 SECTION TWO HUNDRED THREE OF THIS ARTICLE; AND
   (10)  the  decision  to  change any other statement in the articles of
 organization.
   § 5. The limited liability company law is  amended  by  adding  a  new
 section 215 to read as follows:
   § 215. BENEFICIAL OWNERSHIP DISCLOSURE. (A) A LIMITED LIABILITY COMPA-
 NY WHOSE ORIGINAL ARTICLES OF ORGANIZATION WERE FILED WITH THE SECRETARY
 OF STATE AND EFFECTIVE PRIOR TO THE EFFECTIVE DATE OF THIS SECTION SHALL
 HAVE ONE YEAR FROM THE EFFECTIVE DATE OF THIS SECTION TO AMEND ITS ARTI-
 CLES  OF  ORGANIZATION  TO  INCLUDE  A LIST OF BENEFICIAL OWNERS AND THE
 INFORMATION REQUIRED TO BE PROVIDED RELATING TO  EACH  BENEFICIAL  OWNER
 PURSUANT TO SECTION TWO HUNDRED THREE OF THIS ARTICLE.
   (B)  STARTING  ONE YEAR AFTER THE EFFECTIVE DATE OF THIS SECTION, EACH
 LIMITED LIABILITY COMPANY ORGANIZED IN THIS STATE SHALL  SUBMIT  TO  THE
 DEPARTMENT OF STATE AN ANNUAL FILING, IN SUCH FORMAT AS THE SECRETARY OF
 STATE  SHALL  REQUIRE,  CONTAINING  THE LIST OF BENEFICIAL OWNERS OF THE

 S. 8213                             3
 
 LIMITED LIABILITY COMPANY AND THE INFORMATION REQUIRED  TO  BE  PROVIDED
 RELATING  TO EACH BENEFICIAL OWNER PURSUANT TO SECTION TWO HUNDRED THREE
 OF THIS ARTICLE.
   (C)  THE  DEPARTMENT  OF STATE SHALL ESTABLISH AND MAINTAIN A DATABASE
 IDENTIFYING BENEFICIAL OWNERS BY NAME AND CURRENT RESIDENTIAL  OR  BUSI-
 NESS  STREET  ADDRESS  IF  THEY ARE THE BENEFICIAL OWNERS OF TWO OR MORE
 LIMITED LIABILITY COMPANIES REQUIRED BY THIS ARTICLE TO REPORT ITS BENE-
 FICIAL OWNERS TO SUCH DEPARTMENT. SUCH DATABASE SHALL BE MADE  AVAILABLE
 TO  THE  PUBLIC ON THE DEPARTMENT OF STATE'S WEBSITE NO LATER THAN SEVEN
 DAYS AFTER SUCH INFORMATION HAS BEEN RECEIVED BY THE SECRETARY OF STATE.
 SUCH DEPARTMENT SHALL ALSO ESTABLISH, THROUGH REGULATIONS, PROCEDURES TO
 ALLOW BENEFICIAL OWNERS WITH SIGNIFICANT PRIVACY INTERESTS TO APPLY  FOR
 A WAIVER FROM THE REQUIREMENTS OF THIS SUBDIVISION.
   (D)  BENEFICIAL OWNERSHIP INFORMATION RELATING TO EACH LIMITED LIABIL-
 ITY COMPANY FORMED UNDER THE LAWS OF THIS STATE IS REQUIRED TO BE  MAIN-
 TAINED  BY  THE SECRETARY OF STATE UNTIL THE END OF THE FIVE YEAR PERIOD
 BEGINNING ON THE DATE THAT  THE  LIMITED  LIABILITY  COMPANY  TERMINATES
 PURSUANT TO THIS CHAPTER.
   (E) ANY PERSON WHO: (1) KNOWINGLY PROVIDES FALSE OR FRAUDULENT BENEFI-
 CIAL  OWNERSHIP  INFORMATION; (2) WILLFULLY FAILS TO PROVIDE COMPLETE OR
 UPDATED INFORMATION; OR (3)  DISCLOSES  THE  EXISTENCE  OF  A  SUBPOENA,
 SUMMONS,  OR OTHER REQUEST FOR BENEFICIAL OWNERSHIP INFORMATION SHALL BE
 LIABLE TO THE STATE FOR A CIVIL PENALTY OF NOT MORE  THAN  TEN  THOUSAND
 DOLLARS AND MAY BE IMPRISONED FOR NOT MORE THAN THREE YEARS OR BOTH.
   §  6.  Paragraphs  7  and  8  of subdivision (a) of section 802 of the
 limited liability company law are amended and a new paragraph 9 is added
 to read as follows:
   (7) a statement that the  foreign  limited  liability  company  is  in
 existence in the jurisdiction of its formation at the time of the filing
 of such application; [and]
   (8) the name and address of the authorized officer in the jurisdiction
 of  its  formation where a copy of its articles of organization is filed
 or, if no public filing of its articles of organization is  required  by
 the  law  of the jurisdiction of formation, a statement that the foreign
 limited liability company shall provide, on request, a copy thereof with
 all amendments thereto (if such documents are in a foreign  language,  a
 translation  in  English  thereof  under oath of the translator shall be
 attached thereto), and the name and post office address  of  the  person
 responsible for providing such copies[.]; AND
   (9)  A  LIST OF THE BENEFICIAL OWNERS OF THE FOREIGN LIMITED LIABILITY
 COMPANY THAT IDENTIFIES EACH BENEFICIAL OWNER BY (A) NAME;  (B)  CURRENT
 RESIDENTIAL  OR  BUSINESS  STREET  ADDRESS; AND (C) A UNIQUE IDENTIFYING
 NUMBER FROM A NON-EXPIRED PASSPORT ISSUED BY  THE  UNITED  STATES  OR  A
 NON-EXPIRED  DRIVER'S  LICENSE  OR IDENTIFICATION CARD ISSUED BY THIS OR
 ANOTHER STATE.
   § 7. Section 804 of the limited liability company law  is  amended  by
 adding a new subdivision (c) to read as follows:
   (C) EVERY FOREIGN LIMITED LIABILITY COMPANY THAT HAS RECEIVED A FILING
 RECEIPT  ENTITLED  "CERTIFICATE  OF  AUTHORITY  OF .... (NAME OF FOREIGN
 LIMITED LIABILITY COMPANY) UNDER  SECTION  EIGHT  HUNDRED  FIVE  OF  THE
 LIMITED LIABILITY COMPANY LAW," EVIDENCING AUTHORITY AS PROVIDED HEREIN,
 SHALL  AMEND  ITS APPLICATION FOR AUTHORITY UPON A CHANGE IN THE LIST OF
 BENEFICIAL OWNERS OR THE INFORMATION REQUIRED TO BE PROVIDED RELATING TO
 EACH BENEFICIAL OWNER PURSUANT TO SECTION  EIGHT  HUNDRED  TWO  OF  THIS
 ARTICLE, WITHIN NINETY DAYS OF SUCH CHANGE.

 S. 8213                             4
 
   §  8.  The  limited  liability  company law is amended by adding a new
 section 810 to read as follows:
   §  810. BENEFICIAL OWNERSHIP DISCLOSURE. (A) A FOREIGN LIMITED LIABIL-
 ITY COMPANY WHOSE CERTIFICATE OF AUTHORITY WAS FILED WITH THE  SECRETARY
 OF STATE AND EFFECTIVE PRIOR TO THE EFFECTIVE DATE OF THIS SECTION SHALL
 HAVE  ONE  YEAR  FROM  THE  EFFECTIVE  DATE OF THIS SECTION TO AMEND ITS
 CERTIFICATE OF AUTHORITY TO INCLUDE A LIST OF BENEFICIAL OWNERS AND  THE
 INFORMATION  REQUIRED  TO  BE PROVIDED RELATING TO EACH BENEFICIAL OWNER
 PURSUANT TO SECTION EIGHT HUNDRED TWO OF THIS ARTICLE.
   (B) STARTING ONE YEAR AFTER THE EFFECTIVE DATE OF THIS  SECTION,  EACH
 FOREIGN  LIMITED  LIABILITY COMPANY ORGANIZED IN THIS STATE SHALL SUBMIT
 TO THE DEPARTMENT OF STATE AN ANNUAL  FILING,  IN  SUCH  FORMAT  AS  THE
 SECRETARY  OF  STATE  SHALL  REQUIRE,  CONTAINING THE LIST OF BENEFICIAL
 OWNERS OF THE FOREIGN LIMITED  LIABILITY  COMPANY  AND  THE  INFORMATION
 REQUIRED  TO  BE  PROVIDED RELATING TO EACH BENEFICIAL OWNER PURSUANT TO
 SECTION EIGHT HUNDRED TWO OF THIS ARTICLE.
   (C) THE DEPARTMENT OF STATE SHALL ESTABLISH AND  MAINTAIN  A  DATABASE
 IDENTIFYING  BENEFICIAL  OWNERS BY NAME AND CURRENT RESIDENTIAL OR BUSI-
 NESS STREET ADDRESS IF THEY ARE THE BENEFICIAL OWNERS  OF  TWO  OR  MORE
 LIMITED LIABILITY COMPANIES REQUIRED BY THIS ARTICLE TO REPORT ITS BENE-
 FICIAL  OWNERS TO SUCH DEPARTMENT. SUCH DATABASE SHALL BE MADE AVAILABLE
 TO THE PUBLIC ON THE DEPARTMENT OF STATE'S WEBSITE NO LATER  THAN  SEVEN
 DAYS AFTER SUCH INFORMATION HAS BEEN RECEIVED BY THE SECRETARY OF STATE.
 SUCH DEPARTMENT SHALL ALSO ESTABLISH, THROUGH REGULATIONS, PROCEDURES TO
 ALLOW  BENEFICIAL OWNERS WITH SIGNIFICANT PRIVACY INTERESTS TO APPLY FOR
 A WAIVER FROM THE REQUIREMENTS OF THIS SUBDIVISION.
   (D) BENEFICIAL OWNERSHIP INFORMATION RELATING TO EACH FOREIGN  LIMITED
 LIABILITY  COMPANY FORMED UNDER THE LAWS OF THIS STATE IS REQUIRED TO BE
 MAINTAINED BY THE SECRETARY OF STATE UNTIL THE  END  OF  THE  FIVE  YEAR
 PERIOD  BEGINNING ON THE DATE THAT THE FOREIGN LIMITED LIABILITY COMPANY
 TERMINATES PURSUANT TO THIS CHAPTER.
   (E) ANY PERSON WHO: (1) KNOWINGLY PROVIDES FALSE OR FRAUDULENT BENEFI-
 CIAL OWNERSHIP INFORMATION; (2) WILLFULLY FAILS TO PROVIDE  COMPLETE  OR
 UPDATED  INFORMATION;  OR  (3)  DISCLOSES  THE  EXISTENCE OF A SUBPOENA,
 SUMMONS, OR OTHER REQUEST FOR BENEFICIAL OWNERSHIP INFORMATION SHALL  BE
 LIABLE  TO  THE  STATE FOR A CIVIL PENALTY OF NOT MORE THAN TEN THOUSAND
 DOLLARS AND MAY BE IMPRISONED FOR NOT MORE THAN THREE YEARS OR BOTH.
   § 9. This act shall take effect immediately.

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Senate Bill S8213

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Sponsored By

Brad Hoylman-Sigal