New York Banking Law Section 2-A - Limited liability investment company; definitions.

 2-a.  Limited  liability  investment  company; definitions. When the
  provisions of this chapter are applied to the formation and operation of
  a limited liability investment company references to:
1. "Board of directors" shall include the managers  charged  with  the
  management of a limited liability investment company as set forth in its
  articles of organization.
2.  "By-laws"  shall  include  the  operating  agreement  of a limited
  liability investment company.
3. "Capital stock" shall include the cash and property the members  of
  a  limited liability investment company have contributed to the company,
  but  shall  not  include  promissory  notes,  or  other  obligations  to
  contribute cash or property or to perform future services.
4.  "Corporation"  shall  include an unincorporated investment company
  formed as  a  limited  liability  investment  company  pursuant  to  the
  provisions of article twelve of this chapter.
5.  "Director"  shall  include  one  of  the managers charged with the
  management of a limited liability investment company as set forth in its
  articles of organization.
6. "Dividend" shall include the distribution of  a  limited  liability
  investment company's cash or other assets to its members.
7.  "Incorporator"  shall  include the person or persons who is or are
  the organizer or organizers of a limited liability investment company.
8.  "Organization  certificate"  shall   include   the   articles   of
  organization of a limited liability investment company.
9.  "Share" shall include the equity interest of a member of a limited
  liability investment company as set forth in the company's  articles  of
  organization or, in the absence of such a provision, the equity interest
  represented  by a member's right to a proportionate share of the profits
  of the company.
10. "Stock" shall include  the  equity  interest  represented  by  the
  percentage  of  the  total  votes  a member may cast as set forth in the
  articles of organization of a limited liability investment  company  or,
  in the absence of such a provision, the equity interest represented by a
  member's right to a proportionate share of the profits of the company.
11.  "Stockholder"  shall  include  a  member  of  a limited liability
  investment company who has an equity interest represented by his or  her
  right to a proportionate share of the profits or capital of the company.
12.  "Voting stock" shall include the definition of stock as set forth
  in this section.

Last modified: February 3, 2019