Section 805. Issuance of certificate of authority; effect  


Latest version.
  • (a) Upon filing
      with the department of state  of  the  application  for  authority,  the
      department  of  state shall issue a filing receipt entitled "Certificate
      of authority of... (name of foreign  limited  liability  company)  under
      section  eight  hundred  five of the Limited Liability Company Law," and
      the foreign limited liability company shall be authorized to do business
      in this state. Such authority shall continue  so  long  as  the  foreign
      limited  liability  company  retains its authority to do business in the
      jurisdiction of its formation and its authority to do business  has  not
      been surrendered, suspended or annulled in accordance with the law.
        (b)   A   foreign  limited  liability  company  that  has  received  a
      certificate of authority shall have such powers to conduct  business  in
      this  state as are permitted by the laws of the jurisdiction in which it
      was organized but no greater than those of a domestic limited  liability
      company;  provided, that this subdivision shall not affect the powers of
      the foreign limited liability company outside this state; and  provided,
      further,  that a foreign related limited liability partnership (i) shall
      have such powers to conduct business in this state as are  permitted  by
      the laws of the jurisdiction whose laws govern the agreement under which
      such  foreign  related  limited  liability  partnership  operates but no
      greater than those of a partnership without limited  partners  operating
      under  an agreement governed by the laws of this state and provided that
      such foreign related limited liability partnership shall not  engage  in
      any  profession  or professions and (ii) shall be deemed to be a foreign
      limited liability partnership for purposes of subdivisions (l)  and  (m)
      of  section  121-1502 of the partnership law which subdivisions shall be
      applicable to foreign related limited liability partnerships.