Kiritsis & Associates
By John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M
Kiritsis Law Group
212 922 0005
Section 204 of Chapter 34 Article 2 of the New York Limited Liability Company Law covers the effect of filing the articles of organization for an LLC in New York. This includes the creation of the LLC as a legal entity with perpetual duration, unless a specific duration is stated in the articles. The section also covers the LLC's capacity to conduct business in New York and to sue and be sued, as well as the LLC's ability to own property and incur debts and obligations. Additionally, the section discusses the relationship between the LLC and its members, and the LLC's ability to amend its articles of organization.