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New Jersey – Limited Liability Company Disclosure Requirements

Assembly Bill 3540 (Chapter No. 2016-43) signed by the governor and effective August 31 requires a limited liability company that is awarded a public contract paid with or out of any public funds to disclose the names and addresses of all members who own 10% or more of the LLC and provides that compliance via submission of annual SEC filings by a direct or indirect parent is permissive rather than mandatory.