§ 1206 — Purposes of formation

New York § 1206

• Jurisdiction: New York
• Law LLC: Limited Liability Company Law
• Art. 12: Professional Service Limited Liability Companies

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§ 1206. Purposes of formation. No professional service limited\nliability company shall engage in any profession or professions other\nthan those set forth in its articles of organization. A professional\nservice limited liability company may only engage in a profession or\nprofessions as to which one or more of its members is authorized by law\nto render professional services in this state. In addition to engaging\nin such profession or professions, a professional service limited\nliability company may carry on, or conduct or transact any other\nbusiness or other activities as to which a limited liability company may\nbe formed under section two hundred one of this chapter. Notwithstanding\nany other provision of this section, and subject to the next succeeding\nsentence of this section, a professional service limited liability\ncompany (i) authorized to practice law may only engage in another\nprofession or other business or activities or (ii) which is engaged in a\nprofession or other business or activities other than law may only\nengage in the practice of law, to the extent not prohibited by any other\nlaw of this state or any rule adopted by the appropriate appellate\ndivision of the supreme court or the court of appeals. Any professional\nservice limited liability company may invest its funds in real estate,\nmortgages, stocks, bonds or any other type of investments.\n