Requires limited liability company to disclose ownership information when submitting deed for recording and establishes penalty.*
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill requires limited liability companies (LLCs) and foreign LLCs to disclose information about their ownership and registered agent when they record a deed for real property in New Jersey. Specifically, it mandates the submission of an affidavit detailing the registered agent’s name and address, along with information about each beneficial owner, including their full legal name, date of birth, current business address, and a unique identification number. Failure to comply with these disclosure requirements will result in a penalty of $5,000 per violation. The bill also allows municipalities to place liens on properties for unpaid housing, building, or health code violations issued to LLCs.
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