This bill mandates that when a limited liability company (LLC) or a foreign limited liability company is the grantee of a deed for residential real property intended for rental purposes, specific disclosures must be made at the time of recording the deed. The company is required to submit an affidavit that identifies the registered agent for service of process, as well as an affidavit identifying at least one member of the company if the registered agent is not a member. This requirement applies regardless of the number of dwelling units involved in the rental property.

The bill amends existing law by adding a new section that outlines these requirements for both domestic and foreign limited liability companies. It emphasizes the importance of transparency regarding the registered agent and company members in the context of residential rental properties, thereby enhancing accountability in real estate transactions involving LLCs. The act is set to take effect immediately upon passage.

Statutes affected:
Introduced: 46:15-6