True," hey there YouTube. So in this video, I wanted to talk about New York's notification requirements when you form a New York entity. New York is one of the last holdouts in this space where, after you form an entity, you actually have to give public notice in a local newspaper or another type of publication in order to comply with state regulations. So, this side, I just got one slide in front of us, I want to talk about some of the rules, what the examples are, and why these rules even exist and they haven't been overturned yet. So, if we're starting at the top here, under Section 206 in New York's LLC Act, the LLC is required to publish within 120 days of formation a notice in two general circulation newspapers, right? It has to be published within 120 days, and it has to run for a period of six weeks. This is required for every entity that's formed under New York law. What's the purpose of this? Well, the original purpose was to protect consumers. The idea was to publish the notification to inform readers that this new entity was created within the state. The idea was to give the readers notice that this entity was formed and the owners might be using it to shield themselves from personal liability, right? That's the idea behind it. Now, in present day, um, this is kind of a lost cause. The requirement continues to receive a lot of backlash because very few other states do this. The vast, vast majority do not. You just go ahead and set up the entity and you're done. Um, so it doesn't provide a lot of utility, and it just increases the cost of creating a New York company, right? If you want to form...
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