§ 1107 — Beneficial ownership disclosure

* § 1107. Beneficial ownership disclosure. (a) All reporting companies\nshall file with the department of state a beneficial ownership\ndisclosure in such form and manner as directed by the department of\nstate, identifying each beneficial owner of the reporting company and\neach applicant with respect to that reporting company, by: (1) full\nlegal name; (2) date of birth; (3) current home or business street\naddress; and (4) a unique identifying number from: (i) an unexpired\npassport; (ii) an unexpired state driver's license; or (iii) an\nunexpired identification card or document issued by a state or local\ngovernment agency or tribal authority for the purpose of identification\nof that individual.\n (b) All exempt companies shall electronically file, under penalty of\nperjury, an attestation of exemption in such form designated by the\ndepartment of state, which statement shall include the specific\nexemption claimed and the facts on which such exemption is based. Any\ncompany filing an exemption pursuant to this subdivision shall be\nsubject to the annual statement requirement as stated in subdivision (g)\nof this section in the form prescribed by the department, which\nstatement shall be attested to under penalty of perjury.\n (c) All beneficial ownership disclosures, attestations of exemption,\nand filing fees shall be submitted electronically as prescribed by the\ndepartment of state. The beneficial ownership disclosure or attestation\nof exemption shall be signed electronically consistent with the\nprovisions of article three of the state technology law.\n (d) Within thirty days of an initial filing of articles of\norganization or an application for authority pursuant to this chapter, a\nreporting company shall file with the department of state a beneficial\nownership disclosure that complies with subdivision (a) of this section.\nWithin thirty days of an initial filing of articles of organization or\nan application for authority pursuant to this chapter, an exempt company\nshall file with the department of state an attestation of exemption that\ncomplies with subdivision (b) of this section.\n (e) Within one year of the effective date of this section, all\npreviously formed or authorized reporting companies shall file with the\ndepartment of state a beneficial ownership disclosure that complies with\nsubdivision (a) of this section. Within one year of the effective date\nof this section, all previously formed or authorized exempt companies\nshall file with the department of state an attestation of exemption that\ncomplies with subdivision (b) of this section.\n (f) All information relating to beneficial owners who are natural\npersons collected by the department of state in accordance with this\nsection shall be maintained in a secure database and shall be deemed\nconfidential except: (1) pursuant to the written request of or by\nvoluntary written consent of the beneficial owner; (2) by court order;\n(3) to officers or employees of another federal, state or local\ngovernment agency where disclosure is necessary for the agency to\nperform its official duties as required by statute or necessary to\noperate a program specifically authorized by law; or (4) for a valid law\nenforcement purpose including as relevant to any law enforcement\ninvestigation by the office of the attorney general. Any beneficial\nownership information disclosed by department of state shall not be\nfurther disclosed by any recipient except as authorized in law or as\notherwise necessary to the performance of statutory duties.\n (g) Once the initial beneficial ownership disclosure has been filed,\nall reporting companies shall electronically file with the department of\nstate an annual statement confirming or updating: (1) their beneficial\nownership disclosure information; (2) the street address of its\nprincipal executive office; (3) status as exempt company, if applicable;\nand (4) such other information as may be designated by the department of\nstate.\n (h) The department of state shall establish provisions for sharing\ninformation with agencies permitted to access information relating to\nbeneficial owners in accordance with subdivision (f) of this section.\n * NB Effective January 1, 2026\n