New York achieved an important business legislation milestones during the month of February. Please see below for a summary of the new law for entities in New York.
Assembly Bill 453
New York Assembly Bill 453, effective February 10, 2020, amends Sec. 609 of the New York Limited Liability Company Law to provide that the ten largest members of foreign LLCs may be held personally liable for unpaid wages owed to their employees who performed services for the LLC in New York. View the bill text.
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For informational purposes only; content does not constitute legal advice.