2016 New York Laws
BNK - Banking
Article 15 - General Provisions Applicable to Banking Stock Corporations, Limited Liability Investment Companies, and Limited Liability Trust Companies
Title 4 - (4001 - 4005) Formation of Corporations
4001-B - Formation of limited liability trust companies.

   4001-b.   Formation  of  limited  liability  trust  companies.  1.
  Notwithstanding the provisions of section  four  thousand  one  of  this
  title  and  when authorized by the superintendent 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.