Section 4001-B. Formation of limited liability trust companies

1.
  Notwithstanding the provisions of section  four  thousand  one  of  this
  article  and when authorized by the superintendent and the banking board
  as provided in article two of this chapter, five  or  more  persons  may
  form  a  limited  liability  trust company pursuant to the provisions of
  article three of this chapter. Such person or  persons  shall  subscribe
  and  acknowledge  the articles of organization in duplicate, which shall
  specifically state:
    (a) the name by which the limited liability trust  company  is  to  be
  known;
    (b) the place where its office is to be located;
    (c) the amount of its capital contributions;
    (d)  if  the  company  is  to  have  classes or groups of members, the
  relative rights, powers, preferences, limitations, and voting powers  of
  each such class or group;
    (e)  the  names  and  places  of  residence of the persons forming the
  company;
    (f) the duration of the company;
    (g) the number of managers charged with the management of the  company
  as  its board, provided that such number shall be in accordance with the
  requirements set forth in section seven thousand two  of  this  article;
  and
    (h)  the  names  of the persons who shall manage the company until the
  first annual meeting of the members, provided  that  such  persons  must
  possess  the qualifications as to citizenship and residence specified in
  section seven thousand one of this article.
    2. No limited liability trust company shall be authorized to  exercise
  the  powers  set  forth in this chapter or the limited liability company
  law unless its capital contributions amount to not less than the amounts
  prescribed by the superintendent.