The End is Near: Limited Liability Entities in New York State Must Act Today to Avoid Suspension
If you are an owner, member or operator of a non-corporate limited liability entity that either was organized pursuant to the statutes of the state of New York or that is duly qualified to do business in New York, time is running out. By this it is meant that you have only until May 31, 2007, to make certain that you fully are in compliance with certain new newspaper publication and filing requirements that went into effect in the state of New York.
Specifically, if your limited liability entity (LLE) either was either formed in the state of New York or qualified to do business in the state of New York between January 1, 1999, and June 1, 2006, you must make certain that your limited liability entity is in compliance. The new law permitted a grace period of until the end of May to get into compliance. The legislation requires any LLE formed after June 1, 2006, to meet the newspaper publication and filing requirement no later than one hundred twenty (120) days after formation or qualification.
The compliance process for your LLE actually is not that cumbersome or complicated. In order for your LLE to become compliant, the following steps must be taken:
1. The notice that is required of an LLE pursuant to the new law must be duly published in an appropriate weekly newspaper as described in that legislation for six (6) consecutive weeks.
2. Following the publication process as described above, a certificate of the publication together with the duly executed affidavits from the newspaper in which the notices were published must be filed.
The reality is that this process easily can require a ninety (90) day period to make arrangements for publication, undertake the publication process itself and to make the appropriate filing. If you have not commenced the compliance process we have outlined for you, you must make certain that this process is underway immediately or run the risk of becoming non-compliant.
In order to ensure that your LLE is in complete compliance in the future, you will want to make certain that you sign up for our authoritative email alerts and legal updates. If you have any questions or concerns about the compliance issues that have been discussed with you today, or any other issues regarding your limited liability entity, feel free to contact us for a consultation either by telephone or via e-mail.
Related Tags: international law, internet law, business law, securities law
Robert Masud, Esq. is the principal of Masud & Company LLC, a law firm for the world of business, finance and the internet. Find out how we can help you at http://www.masudco.com
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- How to Hire a Personal Injury Attorney Toronto
There is no question that suffering from a personal injury is an incredibly difficult thing to have - Finding the Best Personal Injury Lawyer
Should you be the victim of an accident that just simply was not your fault and you have received an - DUI Perpetrators Must Seek Expert Help
It is obvious, as we progress further into the future, that behavior that puts others at risk is not - To Find the Best New York Attorney Buffalo is Still the Best Choice
If you need an attorney in New York, you would surely have a lot of options. New York has 10 cities - If You Need a Great Wisconsin Attorney Madison is the Way to Go
Are you in need of a great Wisconsin attorney? If you are from Wisconsin and need a great attorney M - What Is The Importance Of An LLP Agreement
An LLP agreement is an important contract, since without such a document the Limited Liability Partn - Personal Injury Lawyers - Get Help at Your Doorstep When Injured
As soon as you are involved in an accident, it is usually quite common for you to be injured maybe i - Personal Injury Lawyers - Knowing If You Are Entitled For a Claim
No doubts accidents do take place; however that does not mean that you should take up the liabilitie - Personal Injury Lawyers - Claiming Compensation For Your Injuries Some Tips
When you are injured, the next thing is you should know what legal rights you have; this will provid - Personal Injury Lawyers Help Victims of Car Accident Claim Financial Damages
People living in Toronto go to work through different modes of transports like trains, buses and car
Most viewed articles in this category:
- Mesothelioma Lawyer - Asbestos Attorney - Mesothelioma Lawsuits & Lung Cancer Information
Mesothelioma is one of the most tragic diseases ever to strike the working man. Due to decades of m - Michigan Personal Injury Lawyer Courts
The Michigan Courts were created by the Constitution of 1963, Article VI, and Section 1, under which - What is Entrapment?
Question: What is entrapment?Criminal Defense Lawyer: Entrapment is a defense raised by a defendan - Top 10 Tips On How To Win Your Road Traffic Accident Case
If you happen to be pursuing this thing right now then here are the top ten tips on how to win your - Agency Law
Agency Law The origins of the doctrine of necessitous intervention by someone who is in a legal rel - Procedure Of DWI In U.S.A.
ALR (Administrative License Revocation) A Program to suspend the driving license Of Drivers Which a - Mesothelioma Lawsuits Surging in United States
Mesothelioma is a cancerous disease where malignant cells develop in the lining of the chest or the - Forensic DNA Testing
Forensics is defined as the study of evidence found at a crime scene and used in a court of law. For - Arizona Drunk Driving Law, Az Drunk Driving Law & Arizona Drunk Driving Charges
Arizona drunk driving is one of the most common and deadly mistakes in Arizona while driving. Defens - Worried About the Fair Debt Collection Practices Act?
Do you work for a financial institution that collects debts? If so, do you know whether the Fair De